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The Role of Auction Barns in Today’s Cattle Market with Joplin Regional Stockyards
Manage episode 442755804 series 3578050
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Skyler Moore with Joplin Regional Stockyards and Shaye Koester-Wanner discuss the evolution of the Joplin Stockyards, the importance of value-added programs for cattle producers, and the challenges faced in the cattle industry today. He emphasizes the significance of reputation and planning for success in cattle sales, as well as the role of video sales and specialty sales in enhancing market opportunities for cattle producers. The conversation highlights the impact of the auction business on the economy and the need for continued support for local sale barns. Whether you are a seasoned or new rancher, this conversation reminds you how important it is to have a cattle marketing plan each year.
Takeaways• The role of sale barns has evolved significantly over the years.
• Value-added programs are crucial for cattle producers to enhance profitability.
• Video sales have expanded market reach for cattle producers.
• Challenges in the cattle industry include a shrinking cow herd and regulatory changes.
• Small producers benefit from co-mingling programs to increase profitability
• Specialty sales provide opportunities for cattle producers to receive a higher price
• Reputation is key for repeat customers in the cattle industry.
• Cattle producers should have a solid marketing plan and stick to it despite market volatility.
• The auction barn business plays a vital role in price discovery and economic impact.
00:00 Introduction and Background of Joplin Regional Stockyards
05:22 The Evolution of Stockyards and their Role in the Industry
08:16 Adding Value to Calves and Connecting Producers with Buyers
13:59 Challenges Faced by Stockyards, including Government-Mandated Tagging
16:53 Supporting Sale Barns and Utilizing Value-Added Programs
28:23 Final Thoughts and Importance of Sale Barns
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