LiveAg
Commercial L/S Auction
Terms & Conditions
1. All Bidders must register with LiveAg prior to the auction and have a Buyer Number. All buyers understand that LiveAg sells cattle on forward contract and agrees to be bound by the terms listed in the LiveAg & Buyer Master Agreement for Livestock Transactions that is signed upon registering for a buyer number. This complete agreement can be found at the bottom of the homepage of Live-Ag.com.
2. All Sellers agree to sell and deliver cattle according to the LiveAg & Seller Master Agreement for Livestock Transactions signed by the consignor prior to auction. This complete agreement can be found at the bottom of the homepage of Live-Ag.com.
3. The Auctioneer has the right to reject any bids along with settle any dispute that may arise between multiple bidders. The Auctioneer also has the right to re-open any lot immediately following a dispute and resell it to the highest bidder. The decision of the Auctioneer shall be final.
4. Announcements from the block will take precedence over anything printed in the catalog or listed on LiveAg’s website.
5. No Sale or Pass Out. Seller reserves the right to reject the highest bid on their cattle but must do so and have it announced on the block prior to the next consecutive lot being sold.
6. Payment. Buyers must pay a $40 per head part payment on all cattle that deliver more than 10 business days after the auction with the remaining balance due no later than the next business day upon delivery. Cattle that deliver within 10 business days of the auction date are exempt from the part payment as they will be paid in full no later than the next business day upon delivery. All payments must be wire transferred, ACH transferred or via overnight check by UPS or FedEx. Payment via a check sent by the USPS (ordinary mail) is not acceptable. Buyers are responsible for costs associated with sending payment. Instructions for where to send payment will be sent to buyers following the conclusion of the auction.
7. Trucking. Buyers are responsible for arranging trucks for the transportation of their purchases along with any rules and regulations regarding the transportation. A LiveAg representative will be at the delivery to make certain the cattle are sorted and loaded according to the contract.
8. Additional Agreements. All Buyers and Sellers are also subject to LiveAg’s Master Buyer and/or Seller Agreements for Livestock Transactions. Any terms and/or conditions contained within those agreements may supersede any of the terms and conditions listed here. Both complete agreements can be found at the bottom section in the footer of the Live-Ag.com website.
Slide Information
Conventional Slide. Adjusts the price per hundredweight (cwt) if livestock weigh more than the base weight, with the slide adjustment stopping at the designated Weight Stop.
2-Way Slide. Adjusts the price per cwt equally for weights over or under the base weight with a 25# Weight Stop on both sides.
LA 2-Way Slide. Allows separate price adjustments for weights over and under the base weight. The price adjustment on weights under the base weight will always be equal to one half the rate over the base weight. The Weight Stop will be 25# for both directions. For example, if it is a $.20 slide over the base weight then it will always be a $.10 slide below the base weight.
LA Gain Slide. Allows for a designated rate to be applied to each pound over the base weight. In an example of a set of cattle selling with a base weight of 550# and a $1 LA Gain Slide, if the cattle deliver with an average base weight of 560# then each pound over 550# will be applied to the selling price by $1 (per pound) or a total of $10 per animal.
LA 2-Way Gain Slide. Allows for a LA Gain Slide to go both ways. A rate will be designated for each way (and can be the same) with a 25# Weight Stop on cattle above the base weight and a 15# Weight Stop below the base weight.