Beeswinkel presented 2 700 weaners and long weaners on electronic auction to bidders from five provinces on 21 February. Producer confidence in the Beeswinkel electronic auction concept is growing steadily.
According to Petrus van Heerden, director of Beeswinkel, the company will soon be able to cover all nine provinces at one auction. In another first, the company expects to put international commercial livestock sales on its digital platform, selling Namibian cattle in the electronic arena.
Beeswinkel must keep testing the innovative limits and learning from its mistakes as the company breaks new ground in this field.
The platform allows farmers some options becoming price-makers but only to a point where healthy offers meet the demands. This means that feedlots can also sell for less than the farmer’s reserve price if the farmer agrees. “We cannot interfere with reserve prices,” Van Heerden said, “but we can work on a bigger price spread and double the speed of the auction.”
Calves less than 240 kg sold well. Long weaners did not sell, when lots were closed and marked not sold, before prices met the market. This can be solved by doubling the speed of the auction. If the speed of the auction is too fast, buyers can load a stop price in advance by making use of the pre-bid function.
There were some challenges with small animal groups but Beeswinkel staff members expect to solve these problems soon because they want to be inclusive.
Some of the lots not sold on the day will roll over to the next day.
In the future they foresee a daily auction with new daily entries and rollovers from the previous day. Farmers will be allowed one roll-over on every lot, but when they have daily sales figures and become the market makers, it will be easy for them to choose a more accurate reserve price. – Press release