On Now
Weekdays 00:00 - 05:00
Early Mornings Oscar
NEXT: 05:00 - 06:00 The Agri Hour with Gerben
Listen Live Streams

Agriculture

Auctioneers play vital role in livestock price setting mechanism

───   08:59 Thu, 19 May 2016

Auctioneers play vital role in livestock price setting mechanism | News Article
Hertie Lerm

The finals of the nationwide Toyota Young Auctioneer Competition are underway at Nampo.


Finalists qualified through seven regional competitions leading up to Nampo. Albert Loubser of Stockfarm, who hosts the competition, said auctions are the price setting mechanism of the stock industry in South Africa. He said an auction determines what consumers will pay for meat and what price the producer receives for his stock.

Loubser says the auctioneer has to keep both the seller and the buyer happy. He adds that a good auction ends with a fair price resulting in a happy seller and a happy buyer.

The first winner of the junior competition four years ago, André van Zyl, is one of this year’s judges. He says they are looking at clarity of voice, the quality of presentation, the junior’s ability to present the animal to the buyers and the manner in which he closes the auction.

He says it is easy to rush through an auction. However, judges are keeping an eye out to ensure participants know exactly where they stand with each bid.

Van Zyl gave participants a bit of an idea of what is being expected of them ahead of the junior round on Wednesday.

Then it was time for the juniors to play their cards. Gideon Nienaber was participating in the 13- to 18-year category.

The competition ends on Thursday.

André Grobler/OFM News

- Download the OFM app in the Apple or Android app store to read the latest news/sports stories.


Podcasts

Auctioneer:

@ 2024 OFM - All rights reserved Disclaimer | Privacy Policy | We Use Cookies - OFM is a division of Central Media Group (PTY) LTD.