coming up.
So, if I think there's going to be
enough deduct there that you would be
better off selling them in a different
way and it'll put more money in your
pocket, I'm going to tell you that. I'm
not just going to tell you to sell the
cattle with me because I want to make
the commission. Now, we we do need to
grow and we do need to get bigger, but
if I'm not doing what's best for you, I
I don't have a chance to keep you. It
takes a person with integrity to to work
both sides of it. You can't just be all
seller or all buyer. you got to be right
there in the middle and do what's right
for both. And our buyer base, too. I
mean, they're they're they've been very
very supportive from day one. I mean,
there's a there's a key group of them
guys that when when we did make the
transition and decided to go this way
and build a new company, I I didn't know
there was that much of an outpour. I
mean, they were they were behind it
100%. They wanted it done right.
That's right around the corner on the
live a ranch and livestock marketing we
live at podcast. But first, a reminder.
If it's time to sell your cattle,
consign your cattle with Liveag. Our
summer auction schedule is on your
screen and available at live-ag.com.
Consign your cattle now and take
advantage of Live A's generations of
experience in livestock marketing. Now,
here's your hosts, Tid Cordova and Casey
Mabry. Welcome back to the We Live It
podcast with your host Casey Mabry and
Tai de Cordova. Uh today we wanted to
spend some time uh more educational time
kind of talking about through the
process and that uh what we wanted to
start off with here is uh going through
um how the auctions work. Uh say you're
a producer and you wanted to start uh
merchandising your cattle on your
auctions. Um what are some things that
uh somebody needs to look for?
You know, we start off by finding us at
our website which is live-ag.com.
Um, and on our website, we have a a reps
page that that'll give a list of our
reps in your area. Um, I would kind of
start there. Uh, I think at the bottom
of the page, you can also submit some uh
some phone numbers and some contact
information if you want us to reach out
to you, which we would love to do. um
just just fill that out and it would
come to the the internal team and we'll
kind of get it to the right people or
either that or either myself or one of
the guys in the office will reach out
and kind of fill out who who would be
the best fit for you where you're at and
where your cattle are located cuz some
of that stuff the cattle are located in
one spot and then then the customers in
another and we want to make sure we get
the right person to you. So, best part
best spot to start is would at
live-ag.com
and uh just just search there and if you
want to call if you'd rather talk to
somebody, there is an 800 number there
uh for the office, I believe. Um if
there's not after this episode, Katie
will get an 800 number up on the website
to where people can reach out. It might
not be 800 number, 817 number. I'm
trying to get fact checked back here
real quick. But that would be the best
process is to go through that procedure.
And we have do we do have a great team
of reps out there to that that are
scattered across the country to service
you. Um and the process is pretty
seamless.
Yeah. So, uh probably geographically
driven is probably the biggest thing
there. So, um let's say I reach out to
one of your reps kind of to walk me
through the process of how that works.
Okay. They'll reach you'll reach out to
them. They'll they'll kind of ask a few
questions before they come kind of what
you're looking at selling whether it's a
calf operations, whether it's a yearling
operation or whether it's breadtock or
or what what it is you want to sell. And
then they they'll probably go through a
few more questions. Okay, how many you
have? What's that look like? Cuz we do
get a few calls that that that don't fit
our model. And I mean there's there's
there's places for everything to be
sold. And there's sometimes we do get
phone calls where they just we can't
help them. Um and we the last thing we
want to do is waste their time. So, what
what we do on those people is tell them,
"Okay, this is what you'll need to do to
to come to come and sell through us.
Once you get there, we'd love to help
you. Or if you'd like help getting
there, we can give you some
suggestions." And and our job as a rep
is to make whoever we talk to
profitable, make their make their
organization or their outfit, make it to
get the most value out of whatever
they're offering. So that's that's the
first job of a rep is to to visualize
and assess what they have and and what
is the next plan of action and to ask
them how they've been doing it. What
have you been doing? And also we get
into some of that too and and I'm as
honest as I can be with those people
when I do go through those steps. If if
they're doing something and I don't
think I can
elevate them to another level, I I tell
them, "Look guys, what you're doing is
working. Unless you just want to change,
I I can't I can't benefit you no more. I
love to sell your cattle for you. I'd
love to help you. But unless you just
want to change, what you're doing right
now is perfect. It It fits your It fits
your outfit. It fits your program. But
then we then we can get into some other
things about okay, once we do go to
selling our cattle, then we can advise
them on if it's a cow cal operation.
Okay. Well, they they'll ask us
typically, okay, what do we what can we
do to make it better? We can we can
concentrate on genetics, you know,
through our purebred operation. And we
can concentrate on back pro programs. We
can concentrate on on uh third party
verifications whether it's through imi
global or earth claims or and then a
mineral program like through vatifirm
and some of that stuff where we can add
value through different programs that we
can do. Genetics is a big one. I mean,
getting getting the right genetics in
your herd and and breeding your cows to
the right type of bulls to make the
right type of cross or the right type of
purebred, however you want to do it, and
where you're located and what region of
the country you're located in. That
makes a big difference on on how your
cattle sell and what they bring. and
breeding seasons. I mean, the times when
the cattle come out, the times when they
come off, how big they are, when you're
going to sell them, what what program
fit, what slot they fit, and when their
in-game is, and all that matters, and
and that's something the rep is
knowledgeable of and can go out and and
be with the customer and inform them.
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Yeah. I think about all the different
things that are in the industry and all
the value propositions that are out
there. You know, you got breed
character, you got, you know, all the
different program types. You talk about
NHTC, so the non hormone cattle, all
naturals, all that stuff. I mean, you
guys do a pretty good job or a really
good job of Alex explaining that and
also bringing uh those producers in
there. So, um explain to me. So, so
there's probably some customers out
there that are probably listening to
this and so um what is what what is the
ideal and I imagine there's lots of
variation in ideal um what's the minimum
size. What's the ideal scenario for
somebody that's interested uh in putting
cattle on a video?
We sell load lots. I mean, so the what
what I look at it is and we sell split
loads to make load lots, too. Um, the
way I look at that is
are you willing to give up, if you're
going to just sell 40,000 pounds of
cattle, are you willing to give up that
so much of a freight adjustment or
adjust the freight to 48,000 and and see
what that looked like and and how that
evaluate that dollar evaluates back into
your bottom line. So, if I think there's
going to be enough deduct there that you
would be better off selling them in a
different way and it'll put more money
in your pocket, I'm going to tell you
that. I'm not just going to tell you to
sell the cattle with me because I want
to make the commission. Now, we we do
need to grow and we do need to get
bigger, but if I'm not doing what's best
for you, I I don't have a chance to keep
you. So, if if I can give you the right
kind of advice to to make your bottom
dollar bigger, one day when you do have
45 or 48,000 lbs of cattle, you're going
to remember that and you're going to
come back to me and we're going to talk
again and then we're going to sell them
and then we can make your bottom dollar
even more. So that that's kind of how I
look at it. We try to stick with load
lots of cattle, but we do sell short
loads and we do we we co-ingle some
cattle with some neighbors and stuff
like that. That's another thing that a
rep can get in the little area and do a
little co-ingle deal with several other
smaller ranchers in that area. So
yeah, and kind of at least put them on
the same sail to where it kind of gets
it there.
Sell them lot by lot and say, "Hey guys,
you've tied these [ __ ] together. We'll
put them on truck together." Yeah.
Yeah. So the the thing that I've
probably heard a lot of when I've worked
with, you know, smaller producers out
there or even bigger producers is and
they've traditionally gone to, you know,
one marketing style, whether they're
calling and selling the cattle private
treaty or they're putting the cattle uh
through an auction barn down the road.
You know, what are some advantages to
those guys by using something like live
egg?
Well, way I focused on it is is stress.
A lot of the stress is less if you're
just selling them straight off the
ranch. Um, so versus a sale barn, you
got a lot lot less handling with them.
Um, and versus a private treaty
transaction, well, you get two or three
guys bidding on those cattle in those
private treaty deals where we can have
anywhere from 15 to 20 at one time
looking at your cattle. So, we're we're
broadening your buyer base too on on the
guys that are doing the private treaty
deal. The guys that go in the cell barn,
you know, we do shrink the cattle on the
ground or shrink the cattle on the
truck. There is a little shrink involved
in it, but time after time you can check
those shrinks and you go to the sale
barn and that shrink will be be quite a
bit better just coming right off the
ranch. And at in the endgame where they
get to I have certain customers, certain
buyer base that, you know that they're
at the point now that they want nothing
but off the ranch because the health's
better. It just helps all the way
through because their health program
stays better. They can afford to give a
little bit more upfront because they
don't have to put near as much in them
to them on the back side. I got one
customer that won't even buy one out of
a cell. And that coming from a previous
sale bar owner. I mean, we we own barn,
we sold on video, we we've done it all.
And there's a spot for all of it. Yeah.
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No, I I could see that. And I mean, say
you're a smaller producer and you got,
you know, 50 to 100 cows and they're
cving windows extremely wide. So they're
cving all year long. It's probably hard
extremely hard to put a load lot
together and having them consistent
sizing and sexes and things like that.
But um as far as uh as far as like some
some things that I've heard producers
say and kind of help me, you know, I
guess mythbust if you will. Um you know,
talk about the stress. I mean, and the
and the shrink. So you mentioned shrink.
Some people may may not even know what
shrink is. Explain what that is.
Well, it's like a calf crop for example.
You strip them calves off them cows and
you send them to a cell bar. They stand
there for a day or a day and a half.
They're going to lose quite a bit of
weight. Uh in this instance on if you
sell them to a video, you're going to
strip them off that morning. They're
going to go across a set of scales and
they're going to be somebody else's
property. I mean there there's not that
big of a gap before they're weighed and
sold.
Yeah. So a lot of guys they they don't
know what their shrink is, right?
because they they they take the cattle,
they gather them, they push them on a
truck, they haul them to the sail barn.
The only weight that they ever capture
is what they sold the sold weight.
Um, so they don't truly know how much
the the the first weight was. No.
Uh, we I've dealt with that a million
times as far as trading fat cattle goes,
where guys will sell cattle and not know
what the shrink is, especially when you
get into some other areas. It's not as
prevalent now as what it used to be, but
um, it's definitely something that guys
got to look at. But you can't weigh the
same cattle twice, um, if you will. uh
you guys when you sell cattle uh to
protect both parties,
you put a shrink on the cattle when
because everything's predetermined. The
cat, you don't know necessarily what the
weight is. So, another thing that I've
heard people say is, you know, if I
said, I mean, I I've recommended my some
of my customers sell Catalon videos
because what I do like um is the ability
to determine when you're going to sell
them timing wise, right? you know, you
don't know if if I mean, this is
honestly one of the things I think about
a lot is um the the weather is you're
not going to be worried about the
weather that morning or you know, if
you're going to be able to get trucks in
and out that morning to do it. You kind
of get more of a scheduled plan.
Um but as far as uh as far as some of
the predictability factors of one of the
things that I've that I've had producers
tell me is I don't know what they're
going to weigh.
Yeah.
Um so you're going to put the cattle on
the video, you're going to video the
cattle ahead of time or whatever that
is. So, kind of walk through. Um, a
producer says, let's say I'm I'm I'm
Casey and I say, "Ty, I want to sell,
you know, a load of cattle on the video.
I'm worried about what I, you know,
predicting the weight of them because I
want to make sure that we don't get into
a buy there." Explain to me how we would
go through that process.
Well, my first question would be, where
have you been selling them and how have
you been if it's especially if it's calf
producer? Okay. What typical time do you
do you pull them off your cows and how
have you been selling them? And a lot of
them will have records. They just don't
realize they can utilize those records.
So they'll have past sale records for
the last 5 years. So okay, well what did
they weigh when you sold them the last 5
years? Okay. Well, it varies. Well,
yeah, cuz weather and droughts or or
excessive rain or or perfect conditions,
they all vary. But you can take an
average and you can be within 25 35 lbs
of that on a year-to-year basis.
You can be that close if you do it all
at the same time. And most guys do that
have big enough cow calav operation.
They they tend to ship their cattle at
the same time around the same two weeks
every year. So they have the ability to
do that. They just don't know that they
could look back and oh wait I can go to
my sales receipt. I sent them I sent
them to sale barns for the last 5 years
at this barn for the that this time of
year for last five or 10 years. Well,
let's go get those receipts and look at
it.
Well, then what you got to do is you got
to get them back and look at them and
average them out and figure it all out.
And it's it's not that complicated to
get pretty close. I mean, and then on
the set of yearlings, I mean, it's not
hard to test weigh them unless you don't
have the scales within 50 miles or
something. But then you got these reps
that are getting pretty good at being
able to tell what one weigh and and
predicting the kind of a gain on them
and all that. So,
so that's probably something that's
super important. Uh, and I mean, you've
been in this industry for a very, very
long period of time. And I'm guessing
you could probably get out there
personally and, you know, probably nail
these cattle pretty close on weight. Um,
you know, one of the things that I
struggle with in my business and I think
lots of people struggle with in in their
business is having the right people in
place. So, you send a rep out there to
look at the cattle. I mean, talk
through, you know, your reps and who you
guys use and um why you select for those
reps uh to be able to to to gain the
trust that you guys at Live A can
deliver a very consistent um I guess
product or service each and every time
you guys do it. And and don't get me
wrong, we we're going to run into we're
going to run into issues where their
weights are off. I mean, heck, we had
several of them yesterday in a in a
groyard situation and I'm like, how did
we do this?
You know, it happens. You're going to
you're going to mess up. You're going to
have some mistakes. It's how you fix
them in the end, whether everybody comes
back to the table or not. But as far as
choosing reps, you know, pretty going to
be pretty particular on who we do go out
and select. I kind of mentioned this on
some some other ones um some other
podcasts before about you know we don't
want to be the biggest we kind of want
to be the best and that that goes back
to selecting the right guys to do the
right job that are representing live a
out there so it that rep bill is kind of
a unique unique job first and foremost
you're representing your customer and
you got to sell your customers cattle as
high as you can make them mo the most
you can make them bring your first job
but after you get that done you got to
transition to a buyer. So now you got to
ship the cattle to fit a buyer spec on
how you sold the cattle. So you got to
make you you got there's a fine line you
walk between seller and buyer there that
it takes a it takes a person with
integrity to to work both sides of it.
You can't just be all seller or all
buyer. You got to be right there in the
middle and do what's right for both.
Oh, I bet that's I mean it seems like
it's probably a tough job. It's really
not because honestly you're probably
bringing together u making sure for for
the producer he doesn't want to get a
phone call back.
He wants a fivestar review, you know, he
wants to go to keep coming back and
watch that person. Yes. Absolutely.
Majority of them.
Yeah. And so uh having that rep in place
and having the trust and the foundation
on both sides is probably uh probably
the most key part of the whole deal and
making sure that the glue is there.
And our and our buyer base too. I mean
they're they're they've been very very
supportive from day one. I mean, there's
a there's a key group of them guys that
when when we did make the transition and
it decided to go this way and build a
new company, I I didn't know there was
that much of an outpour. I mean, they
were they were behind it 100%. But they
wanted it done right. So, there there
are some things that we're we're we're
working on right now with our shrinks
and our main things, our slides and our
weight stops. I mean, you can look back
in our in our cataloges the last couple
of sales that we have a lot of cattle
with weight stops on them and big
slides. And that's we're pushing that
because we're getting pushed to do that.
We're seeing a we're seeing a premium
for for them selling them with a weight
stop and a big slide. We're starting
seeing those premiums and you're
starting to see those cattle that don't
have them. They're wondering why they're
not bringing as much as these are. Well,
because they are given a weight slide, a
weight stop and a big slide that this
slide deal is at these levels is is
let's talk about slide. Let's talk about
slide for a minute. Explain in the most
simple form that you can what a slide
is.
So, let's just remember this. We're
probably talking to a producer that's
sending cattle to sale barn. There's
they just sell the cattle and they get a
check back and a lot of them look at per
head values, right? So, let's talk about
how we get to where we optimize
my calf crop. Explain to me what the
slides are, how they work, and why
they're important.
Well, there's several of them. And
there's a regular conventional slide,
which is a up slide. You know, calf is
25 lbs big. You got a 10- cent slide.
The cab brings just say he brings two
bucks. You take and he's 25 lbs big with
a 10 cent slide. You take $2.50 off two
bucks. So, you got one that brought
what? What's that? 19750 with 2.5 bucks
off of him. So that's how the
conventional ups slide works. It's
better if we write it down. You can
explain it a lot better so people can
see the math, but that's just the gist
of it.
So it's adjusting weight based off the
the value because heavier cattle should
bring less per 100 weight.
Mhm.
But it's still more dollars per head.
That's where that's where people get
that's where producers sometimes get
hung up when you go to deducting that
that money off that perunded weight.
They're like, "Well, that why's my he's
not really bringing less. He's really
bringing more dollars per head.
He's bringing less dollars per pound,
but he's bigger, so he's bringing more
dollars per head.
I go, Ty, I go through this all the time
where we were looking at a kill sheet
the other day on a set of fat cattle.
Okay. Everybody's hung up on how much
more of the market do I get per 100
weight, right? I go start looking
through the kill sheet and all these
cattle had been born basically the same
day. There were some halfb bloods born
the same day, been in the feed lots the
same amount of time and there was a
heavyweight discount and these cattle
went into a heavyweight discount. But
but when you look at them on a per
hundred or per dollars per head, they
were bringing like $500 more per head
and being bigger
and they brought $20 ahead 100 lo less.
Yeah.
So then the produc that's what I always
ask them. I'm like what's animals the
most profitable? So to your point when
you're saying, hey, you know, people
might be scared of the slide, but the
slide and pushing those animals to the
heavier weight might actually be more
profitable for the operation from a from
a total dollar standpoint.
Yeah. But then you got to get into the
point where is that
what is a big enough slide for the guy
that's receiving them? I mean, a 10 cent
these eight and 10 cent slide days is
over with. I mean, it's these values.
Well, these values and then the roll
back, right? the the Yeah. So, so, uh,
having the the cost of gain and the cost
of production now with all the, you
know, cheap feed stuffs we have.
Um, the the the that's probably the most
important.
You know, I've been looking at a deal.
We've been selling some cattle on the
gain slide and a dollar gain slide and
that if you look at that, that thing
might fit better than anything at this
point at these levels because I mean,
it's just a dollar every pound that goes
up. I mean, that's what the producer is
putting in his pocket and that's what
the buyer's having to pay. And I don't
know what he can put a pound. I mean,
some of them it takes 95. Some of them
they're dollar cost of gains a dollar10,
dollar20, whatever it is, but the dollar
is about as fair as you can get, I would
think. Um, and we're doing we're doing
quite a bit of that on some of these
cattle are coming in pretty big.
Yeah, we've never seen us uh I mean it's
extremely unprecedented to see the
spread between
market value of cattle whether you're
talking about feeder cattle or uh or fat
cattle and then the cost to produce a
pound a the cost to produce a pound of
gain. I was thinking about the other day
even if a fat steer is extremely
inefficient
for every day that he's standing in
there he's gaining two and a half three
pounds a day. you'd like to see them
gain three and a half, four pounds a
day, but they probably start to tamper
some of their growth. But like I think
that's one of the biggest reasons we've
seen, you know, lots of changes. But I
mean, for every day that the animals
stand in there, the spread, if they're
gaining three lbs a day,
um the spread between the market price
and the cost of gain is probably, you
know, at the worst case scenario, a buck
50.
Yeah.
Um or a buck. And so you got a buck at
three pounds. Every day is $3. $3 a day
for every day that they stay in there.
So, um it's definitely going to drive
things. and behaviorally um we going to
do things different but then from your
talk your standpoint on the slides uh it
it definitely makes a big important
man and I was talking to some of these
buyers the other day and they were
giving me a hard time about slides and
you know I I I've been hesitant to bring
this up on one of these deals because of
the of the calls I'm probably going to
get but at this point in time I don't
whatever you know call me but until our
buyer base
goes to pushing back on these small
slides there's No, no way us as as reps
or as as independent or as a video
company or anybody until the buyer base
goes back and pushes against it and
stops bidding on these cattle with these
little slides
and and if they're still going to
support it, that's still going to
happen. So, until the buyer base says
and has enough and and shows a big
enough discount on those cattle with
those smaller slides, we won't ever be
able to get it right where it needs to
be.
Yeah. So, do you think that's uh
uh they don't really have leverage
today, right? I mean, the buyers just
buying cattle because they're offered it
that way, but you did say you're seeing
a spread. The cattle with bigger slides
are bringing more money.
They are. And they're start it's
starting to happen. You can see it. And
they're starting to You're starting to
see it, especially the weight stops. I
mean, them guys are really liking this.
I mean, cuz And then then that's making
the producer be tighter on what he's
choosing to do. I mean, how he's, you
know, he's he's he's trying to get
better at what he does, and that's
great. That's what we want to do. You
know, we want people to come back and
buy these cattle year in and year out.
And if the producer is going to do it
right and get that close, he don't mind
giving a little weight stop or a big
slide because he knows he's going to be
pretty close.
Yeah. Particularly with uh like we
talked about with with the ability if
you have a lighter weight animal, you
can put more pounds, you get more roll
back. So, to a buyer, it's probably more
important to have an animal that's not
going to be bigger. It's not like it's
just going to there
even in today's day and age or even more
so in today's day and age where you're
probably seeing more what used to be a
seven weight is now an eight weight or a
nine weight. You're seeing lots more
bigger cattle genetics
cheap feed
rain all those different things have
allowed for people to get there and you
know what
incentive is going to drive outcome.
Yeah.
So I mean if the guys incentivize and I
mean I guess there's incentives and then
disincentives
uh to do things. So if they're being
rewarded they're just going to continue
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Yeah. As far as that goes, we kind of
went through, you know, how to get a
hold of a rep. We've gone through uh how
that video process When do we video the
cattle?
When they come
try to do it when you write the contract
up. Most sometimes we'd have to do the
contract over the phone because there's
some deadlines. Um there's a big man
standing right over here that likes the
video done to be done early and often so
he he he don't have to bug everybody and
keep calling them. But um we but that
video needs to be done at least three to
two or three days after the deadline.
I'm I'm going to ask him. I'm going to
fact check this so he don't shoot me.
But you know the video can if you get in
a crunch we can do it pretty fast. Well,
we like to get that video on so we can
get it up. We want to get it up online.
We want to get it out there so people
can see it. So, we really like all the
videos to be in when the catalog's up.
So, say deadlines on a Tuesday, catalog
goes up on a Thursday or Friday. So, if
if you can have that video in two or
three days after the deadline of the of
the catalog, then the online catalog,
that would be that would be best. So,
then people can the buyers can get on
there, search through there, and look at
their look at the cattle they want to
buy.
Yeah. So they get to see that ahead of
time and kind of plan through that. So
that's another I mean there's probably
another advantage to that. It's not like
we're just walking across the catwalk,
you know, looking at cattle that showed
up that day. Somebody can kind of get in
there and get a pre a predetermined plan
on what they want to do as far as from a
buyer standpoint.
Um what other stuff you want to talk
about as far as uh as far as that
process goes?
Nothing. Just you know the filming deal
is a big deal. How you make them look
and and and how you film them and and
the uh what's the word I'm looking for?
the production of the film, I guess you
could say, or how you prod the quality
of that's the quality of the film.
Yeah. You're not just going out there
and shooting these things with iPhones,
right?
Oh, yeah. You are. Okay. Like them
iPhones do great, but you you got to
hold them right and you got to you got
to make your settings right. Like Bing
is a stickler on how you do it. And I
love it because it makes the cattle look
so much better. Turn that turn their
phone sideways and just record away. But
the separation in the top and the bottom
and and how the cattle string out and
where the sun's at. And
I mean, you think about that. I mean, we
watch our kids, our daughters take
pictures and I mean, it makes when it
seems like I always get on my wife
because she'll take a picture of me like
pointing the camera down and my legs
look like they're real short and I'm
like, I'm already short anyway.
Come on, man.
It's all it's all perception, right? So,
imagine making those cattle look as good
as they probably can.
Yeah. And people call sometimes and you
you'll film some cattle or send some
cattle out there that are that are just
kind of cattle. Well, they'll call you
about them. You're like, I don't know.
You might want to I don't know if them
will fit you. What do you mean you don't
know they'll fit me? Well, he said, I
watched the video. Video is great. I
said, yeah, the video is great. Cuz they
did a really good job of filming them.
Yeah.
So, just I mean that that is one thing
that that will change the factor of
things is how good those guys look on
the film.
So, that's why it's important to make
sure you're getting a hold of the rep to
know. So then a guy, you know, he gets
what you don't want him to get. You
don't you don't want him to get
catfished.
Yeah. Exactly. Yeah.
Yeah.
So,
but Well, awesome. Anything else?
Oh, I don't know. I mean, maybe some the
future markets. I mean, I guess you you
know, one one reason to use the video
sale is so you can capture those, you
know, when the market's up, market's
good, either video sell or or LAX or or
listing site. I mean, when this market's
hot, let's let's contract cattle out. I
mean, let's get some cattle sold for
fall.
the the way this market is right now. I
mean, it's it's unprecedented. Even
though we've had a couple down days
here, but it's still higher than any of
us have ever seen it. So, why not
forward contract some of them cattle?
And that's the ability that that selling
cattle on video or or forward
contracting cattle. That's the ability
that that we like and we'll give. So,
yeah. So, I mean, that's a good point we
got what to touch on there. So, I mean,
I've got some clients out there that are
running cattle on grass and they
traditionally would buy the cattle
wherever they buy them from. They kick
them out on grass and then they're going
to run them cattle as long as they can.
So, let's say Labor Day, right? Um, if
we're in the north, they're going to run
them cattle out there on Labor Day and
then they traditionally just haul them
straight into the sail barn during that
time period. Um, you know, one thing
that I've really tried to encourage guys
of is there's a couple different ways,
and we'll go through this in the next
episode, to manage risk on those cattle.
One of them's physically selling the
animal, one of them's using the product
like LRP to protect it, and then one of
them is just using the futures market.
Yeah.
Well, so in today's world, the LRP is 13
weeks away, so we can't even get to
Labor Day right now. Uh you get to uh
futures market's so volatile to where
you're going to have all this margin
exposure and then the other ones forward
contracting the cattle in the physical
way. Um so I try to encourage our guys
to go, you know what, let's get the
cattle out there and get them sold.
Well, that what some of them guys that
do that what you're talking about and
and they're not sure about the the rain
or or whatever. My my suggestion to them
and what I tell them guys, okay, let's
don't sell all of them.
Let's go in there and let's sell 75% of
them.
That way, if you do have to come early,
you can come early with some of them and
you can stretch it out. If you want to
come late, you can come late or sell 50%
of them. Cover hedge some cover
something. Let's cover some of your
risks some point some way or another
because you can if you'll just sell part
of them you can manage that a lot better
than just having
Well, you're never all wrong.
No, you're not. So, and
that's our biggest fear, right?
Exactly. So,
what what's it what's it hurt to get
capture some of this good market cuz
they'll make money right now.
It's unbelievable.
So,
that's what I suggest. And if they're
nervous about being able to keep them
long enough or not, let's don't sell all
of them. Let's sell part of them.
Yeah. Yeah, I was driving in here a
little bit ago and I was talking to one
of my clients and his his we were
talking about selling cattle early like
fat cattle, right? And so, um, they're
getting bid on the cattle. They weigh,
you know, what what what weigh 1300 now.
What used to be big is now small, right?
It's amazing how perception changes. But
he made this most simple comment.
And the most simple comment, and this is
a 65-year-old man that says, "My dad
always told me, you won't ever go broke
taking a profit." Right? And right now
in our world, we have the we have the
luxury that these cattle are extremely
profitable. Um, use all the tools that
you have available to you. To some
people, futures markets work. Some
people LRP works and some people
physical selling the market works. Um,
again, I've tried to encourage a lot of
my guys, hey, you know, they're like,
what do I do? Um, selling them, just
hauling them straight into town right
now, you're giving up weight.
Yeah. um the network to trade the cattle
out front uh is is you don't necessarily
have lots of bids on them, but you guys
offer the luxury of putting the cattle
out there and picking your future
delivery date.
Yeah.
What's the furthest you've sold cattle
out?
Sold some cattle in January. We got some
cattle traded in January.
So, they're sell you're selling them
now,
delivering them January.
So, six months away from now. Yep. So,
all right. Good. Uh as far as uh I feel
like we covered quite a bit here today.
Uh if you guys have any questions, um
there should be a QR code on the screen.
Uh you can submit any of the questions
that you like and Ty and I will respond
to you. Probably more so Tai in this
topic. Um if you got any market stuff,
definitely uh Ty probably answer that
one better than I could also. But uh we
appreciate you guys joining us today on
this We Live It podcast. Uh if you guys
have any questions, like I said, uh
submit on that QR code. Like the link,
there's a link at the bottom. Uh like
and subscribe. uh forward this on, share
it. If you're somebody that wants to be
on here uh and you and you want to get
your get your voice out, reach out to
us. We can do that as well. Uh thank you
guys. Have a great one.