Cattle producers have a new way to market cattle. It’s not an auction or a listing service, but rather an online platform that allow buyers and sellers to come together. AgriClear allows U.S. and Canadian cattle buyers and sellers with an efficient, cost-effective transaction and payment service. AgriClear Vice President of U.S. Operations Nevil Speer said this allows buyers and sellers access to a broader marketplace.
“Clearly there’s a need to continue to be able to differentiate cattle in a meaningful way, so they don’t just get blended into commodity system,” Speer said.
AgriClear allows buyers and sellers to negotiate on the platform for a number of different attributes, like shrink and slide. Sellers have the ability to add photos or videos, verification documents and so forth. AgriClear also acts as the custodial agent for the financial terms in providing payment insurance and deal certainty. Speer said the capital at risk that goes on in the cattle business now is unparalleled. With concerns over nonpayment, he is seeing more producers who want to know “their partner” and having AgriClear provides an important intermediary service.
Since AgriClear was launched in June of 2015, Speer said the response has been surprisingly pleasant and he is optimistic for the future. With people’s time becoming more limited, he thinks the traditional ways that people have marketed their cattle will also change.
“So, if we can provide broader market access, we can do that in a more efficient means and then, coupled with that provide that payment assurance and deal certainty in a very legally binding type of manner, we see great promise there,” Speer said.
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