For ranchers, true price discovery starts with competition. And that’s why more sheep producers are utilizing video auctions to market their livestock.
Henry Hollenback ranches near Molt, Mont., and is also a rep for Northern Livestock Video Auction and says one of the benefits of video marketing is it provides both buyers and sellers a nationwide audience.
“There’s more coming on because of the demand and the prices that we're dealt with today that they see opportunity in it,” said Hollenbeck. “I think the industry is going to change a little bit on the video auction part as there's not going to be quite so much forward contracting because there's lots of options to put your lambs and sell them on the video auctions.”
Vance Broadbent ranches near Evanston, Wyo., and his family has been selling their sheep on the video now for a few years. He has this advice for other producers who are interested but haven’t yet.
“Producers looking at it need to do homework,” said Broadbent. “They need to ask around to other people who are selling on the video and some that may have but aren't now. We haven't always. We've done about three or four years on the video and then last year we didn't. We're still trying to do what's best for us. But do your homework, find a rep that you know, and develop a good relationship. Learn about the slide and those kinds of things, too, because that's all part of part of selling your lambs.”
If sheep producers are interested in utilizing video marketing of their livestock, a few of the companies out there offering this service to the U.S. sheep industry include Northern Livestock Video Auction, Superior Livestock Auction and Western Video Market.