Video Auctions Research Articles

179 An Evaluation of Oklahoma Beef Calf Market Characteristic Trends from 2011 to 2021

Abstract The Oklahoma Quality Beef Network (OQBN) is a partnership between the Oklahoma State University Extension Service and the Oklahoma Cattlemen’s Association, with the goal of providing and promoting value-added marketing opportunities for beef cattle producers. The Oklahoma Beef Network’s goal is realized through the implementation of the OQBN Vac-45 Program. The OQBN Vac-45 Program is a beef calf preconditioning program, requiring specific vaccination and management practices. Calves that fulfill program requirements receive OQBN Vac-45 Certification and may participate in an “OQBN Sanctioned Sale”. These sales occur as part of regularly scheduled livestock auction sales on specified dates at planned locations. Sale data for all calves sold at OQBN Sanctioned Sales (certified and non-certified calves) were collected each year to capture market premiums attained by OQBN Vac-45 certified calves. The objective of this study was to analyze 11 years of beef calf sale data (2011-2021), collected by extension specialists at 91 individual OQBN Vac-45 sales, which took place at 10 Oklahoma livestock auction locations. An average of 8 sales were conducted each year. A total of 149,525 calves were described using 42 market characteristics for 12 market traits (the number of assigned characteristics depended on the given trait). Market characteristics were analyzed as percentages based on the total number of calves recorded each year. Linear and quadratic regression analysis procedures, with year as the fixed effect were performed using R Statistical Software (v4.1.3; R Core Team 2022). A linear increase in the percentage of red-hided calves sold over time was observed, explained by (R2 = 0.51, P = 0.008). A Kansas State University study by McCabe et al. (2020) regarding breed trends in beef calf lots sold in video auctions from 1995 to 2018, indicated an increase in the number of calves sired by Red Angus bulls (P < 0.0001). An inverse quadratic effect was observed with the percentage of over-conditioned “fleshy” calves decreasing (R2 = 0.89, P < 0.05) and the number of optimally conditioned “average flesh” calves increasing (R2 =0.95. P < 0.05) over time, indicating optimal calf nutritional management. Quadratic regression indicated a decreasing trend (R2 = 0.60, P = 0.01) in the percentage of calves participating in certified preconditioning programs over time, indicating that producers may perceive certified preconditioning programs as an unneeded additional cost. However, from 2011 to 2021 calves enrolled in the OQBN Vac-45 Program received an average premium of $12.55/cwt compared with non-preconditioned calves sold in the same sales. Further data are needed to evaluate the frequency and efficacy of preconditioning practices occurring without participation in certified programs.

Effects of Holstein and beef-dairy cross breed description on the sale price of feeder and weaned calf lots sold through video auctions

Our objective was to determine 1) the value of Holstein feeder steer lots compared with steer lots of other breed descriptions, 2) the value of beef-dairy cross weaned steer calves compared with either Holstein weaned calves or weaned calves of other breed descriptions, and 3) the value of beef-dairy cross weaned steers and heifers compared with weaned steers and heifers of other beef breed descriptions sold through video auctions. Data on 14,075 feeder steer lots sold in 211 auctions from 2010 through 2018, 763 weaned steer calf lots, and 1,125 weaned steer and heifer calf lots sold via 7 auctions in 2020 and 2021 were used. Separate multiple-regression models using backward selection were developed for feeder cattle, weaned steer, and weaned steer and heifer calf lots. The 5 breed group categories used were English-English crossed, English-Continental crossed, Brahman influenced, Holstein, and beef-dairy crossed (weaned calves). Breed description of feeder steer, weaned steer calf, and weaned steer and heifer calf lots affected sale price (P < 0.0001). Among feeder steer lots, Holsteins sold for the lowest (P < 0.05) sale price ($110.56/45.36 kg of BW) compared with all other breed groups. Among weaned steer calves, beef-dairy crossed lots sold for the second lowest (P < 0.05) price ($147.62/45.36 kg of BW), though greater than Holsteins. Among weaned steer and heifer calves, beef-dairy crosses sold for less than (P < 0.05; $136.39/45.36 kg of BW) all other breed groups. Beef-dairy crosses have a greater value prospect than Holstein steers in the beef supply chain.

Effect of Holstein and Beef-Dairy Cross Breed Description on the Sale Price of Feeder and Weaned Calf Lots Sold Through Video Auctions

Objective: Objectives were to determine: 1) value of Holstein feeder steer lots compared with steer lots of other breed descriptions, 2) value of beef-dairy cross weaned steer calves compared with either Holstein weaned calves or weaned calves of other breed descriptions, and 3) value of beef-dairy cross weaned calves compared with weaned calves of other beef breed descriptions sold through video auctions.

Price Determinants for Feeder Cattle in Tennessee

AbstractA hedonic model was employed to examine factors impacting feeder cattle prices at a monthly video auction in Tennessee. Home-raised cattle were estimated to have a $2 per cwt. premium and cattle that have been tested for PI-BVDV (persistent infections with bovine viral diarrhea virus) sold for a premium of $1.19 per cwt. We also show how price varies across sale months for steers and heifers, suggesting opportune times to market gender-specific lots. Corn price was interacted with an average weight per head of the lot to show that lighter cattle were negatively affected, while heavier cattle prices were positively affected by increasing corn prices.

232 Effect of Beef-dairy Cross Breed Description on the Sale Price of Lots of Steer Calves Sold Through Superior Livestock Auction in 2020 Summer Video Sales

Abstract The objective was to determine the effect of beef-dairy cross breed description as compared to Holstein and beef breed descriptions on the sale price of steer calf lots sold through Superior Livestock Auction in 2020 summer video sales. Data were available on 589 lots of weaned steer calves sold via six video auctions during the summer of 2020. Steer lots from the Rocky Mountain/North Central and South Central regions were included in the analysis. All lot characteristics that could be accurately quantified or categorized were used to develop a multiple regression model that evaluated effects of independent factors on sale price using backwards selection. A value of P &amp;lt; 0.05 was used to maintain a factor in the final model. Based upon reported breed descriptions, lots were subsequently categorized into one of five breed groups: 1) English-English cross, 2) English-Continental cross, 3) Brahman influenced, 4) Holstein, and 5) Beef-dairy cross. The mean weight of weaned steer calves was 277.5 ± 60.1 kg. Among weaned steer calf lots, Holstein lots sold for the lowest (P &amp;lt; 0.05) sale price ($113.21/45.36 kg of BW;Table1). Beef-dairy cross lots sold for the second lowest (P &amp;lt; 0.05) sale price ($153.07/45.36 kg of BW), but were only $15.21/45.36 kg of BW below English-English cross. Brahman-influenced lots sold for the third lowest (P &amp;lt; 0.05) sale price ($160.30/45.36 kg of BW). English-Continental cross lots sold for the second greatest (P &amp;lt; 0.05) sale price at $164.01/45.36 kg of BW. English-English cross lots sold for the greatest (P &amp;lt; 0.05) sale price ($168.38/45.36 kg of BW) compared with all other breed descriptions. Beef-dairy cross steer calves were closer in value to beef combinations than to Holstein steer calves.

Factors affecting the sale price of bred heifers and bred beef cows sold through video auctions

The objective was to evaluate potential factors influencing sale price of bred heifers and bred cows sold through video auction. Data were available on 1,870 bred heifer lots sold on 168 video auction dates from 2010 through 2018 and 1,237 bred cow lots sold on 163 video auction dates from 2011 through 2018. Multiple regression models (one each for bred heifers and cows), using backward selection, were developed to determine factors influencing sale price. A P < 0.05 value maintained factors within each final model. Significant determinants of bred heifer and cow sale price included auction year, breed description, weight, region of origin, and weight variation within the lot. Bred heifers sold for similar prices in 2014 ($2,276/head) and 2015 ($2,193), but those prices were greater ( P < 0.05) than all other years (range: $1,086/head to $1,605/head). In 2014 and 2015, bred cows sold for similar prices ($2,159 and $2,174/head, respectively) but at prices greater ( P < 0.05) than all other years (range: $1,186/head to $1,494/head). Red Angus–sired lots of bred heifers and cows sold for the greatest ( P < 0.05) sale price ($1,643 and $1,752/head, respectively) compared with all other breed groups. Auction year, region of origin in the United States, weight, and other factors influenced sale price, suggesting buyers use several components of information at the time of purchase. Understanding factors influencing sale price of bred beef females will help sellers more effectively market females and producers make more informed investment decisions.

Effect of Trucking Distance on Sale Price of Beef Calf and Feeder Cattle Lots Sold Through Video Auctions from 2010 Through 2018

Effect of Trucking Distance on Sale Price of Beef Calf and Feeder Cattle Lots Sold Through Video Auctions from 2010 Through 2018

Trends in the Percentage of Doses of Modified Live, Killed, and Combination Respiratory Viral Vaccines Administered to Beef Calves Offered for Sale in Summer Video Auctions From 2000 Through 2018

Trends in the Percentage of Doses of Modified Live, Killed, and Combination Respiratory Viral Vaccines Administered to Beef Calves Offered for Sale in Summer Video Auctions From 2000 Through 2018

242 Effect of trucking distance on sale price of beef calf and feeder cattle lots sold through video auctions from 2010 through 2018

Abstract The objective was to determine effect of trucking distance on sale price of beef calf and feeder cattle lots sold through Superior Livestock Video Auctions from 2010 through 2018. Data analyzed were collected from 211 livestock video auctions. There were 42,043 beef calf lots and 19,680 feeder cattle lots used in these analyses. Six states (Colorado, Iowa, Kansas, Nebraska, Oklahoma, and Texas) of delivery comprised 70% of calf lots and 83% of feeder cattle lots and were used in these analyses. All lot characteristics that could be accurately quantified or categorized were used to develop multiple regression models that evaluated effects of independent factors using backwards selection. A value of P &amp;lt; 0.05 was used to maintain a factor in the final models. Based upon reported state of origin and state of delivery, lots were categorized into one of the following trucking distance categories: 1) Within-State, 2) Short-Haul, 3) Medium-Haul, and 4) Long-Haul. Average weight and number of calves in lots analyzed was 259.2 ± 38.4 kg BW and 100.6 ± 74.3 head, respectively. Average weight and number of feeder cattle in lots analyzed was 358.4 ± 34.3 kg BW and 110.6 ± 104.1 head, respectively. Beef calf lots hauled Within-State sold for more ($169.24/45.36 kg; P &amp;lt; 0.0001) than other trucking distance categories (Table 1). Long-Haul calf lots sold for the lowest (P &amp;lt; 0.0001) price ($166.70/45.36 kg). Within-State and Short-Haul feeder cattle lots sold for the greatest (P &amp;lt; 0.0001) price ($149.96 and $149.81/45.36 kg, respectively; Table 2). Long-Haul feeder cattle lots sold for the lowest (P &amp;lt; 0.0001) price, $148.43/45.36 kg. These results indicate there is a price advantage for lots expected to be hauled shorter distances, likely because of cost and risk associated with transportation.

241 Trends in the percentage of modified live, killed, and combination respiratory viral vaccines administered to beef calves offered for sale in summer video auctions from 2000 through 2018

Abstract The objective of this study was to identify trends in the percentage of type of respiratory viral vaccines administered to lots of beef calves offered for sale in summer video auctions from 2000 through 2018. There were 59,762 lots of single-gender beef calves (7,167,352 total calves) offered for sale in 145 summer video auctions during these years. Information describing calf lots was obtained from the auction service (Superior Livestock Auction, Fort Worth, TX) which included named vaccines administered to the lot. Named 4- or 5-way respiratory viral vaccines were classified into three groups based on the type of antigens they contained: all modified live antigens (MLV), all killed antigens (KILLED), and a combination of modified live and killed antigens (COMBO). The Cochran-Armitage Trend Test was used to quantify the significance of a trend in the usage of each respiratory viral vaccine type. There was an increase (P &amp;lt; 0.0001) in the percentage of MLV vaccines given to beef calf lots from 2000 (39.7%) through 2018 (88.9%). At the same time, the percentages of both KILLED and COMBO vaccines administered to lots of beef calves declined (P &amp;lt; 0.0001 and P &amp;lt; 0.0001, respectively). In 2000, 31.2% and 29.1% of the total respiratory viral vaccines given to beef calf lots were KILLED or COMBO vaccines, respectively. By 2018, only 4.7% of respiratory viral vaccines were KILLED, and only 6.4% were COMBO vaccines. This dramatic shift indicates an industry trend towards increasing MLV vaccine utilization compared with declining usage of KILLED and COMBO vaccines. This trend may be a result of MLV vaccine approval for use in calves nursing pregnant cows.

Influence of Geographical Effects in Hedonic Pricing Models for Grass-Fed Cattle in Uruguay

A series of non-spatial and spatial hedonic models of feeding and replacement cattle prices at video auctions in Uruguay (2002 to 2009) were specified with predictors measuring marketing conditions (e.g., steer price), cattle characteristics (e.g., breed) and agro-ecological factors (e.g., soil productivity, water characteristics, pasture condition, season). Results indicated that cattle prices produced under extensive production systems were influenced by all of predictor categories, confirming that found previously. Although many of the agro-ecological predictors were inherently spatial in nature, the incorporation of spatial effects into the estimation of the hedonic model itself, through either a spatially-autocorrelated error term or allowing the regression coefficients to vary spatially and at different scales, was able to provide greater insight into the cattle price process. Through the latter extension, using a multiscale geographically weighted regression, which was the most informative and most accurate model, relationships between cattle price and predictors operated at a mixture of global, regional, local and highly local spatial scales. This result is considered a key advance, where uncovering, interpreting, and utilizing such rich spatial information can help improve the geographical provenance of Uruguayan beef and is critically important for maintaining Uruguay’s status as a key exporter of beef with respect to the health and safety benefits of natural, open-sky, grass-fed production systems.

Breed trends in beef calf lots marketed through video auctions from 1995 through 2018

ABSTRACT Objective Our overall objective was to characterize potential changes in breed composition of lots of beef calves marketed through video auctions. Specific objectives of the study were to (1) assess trends in percentage of lots marketed with Brahman influence nationally and regionally within the United States and (2) characterize trends in percentage of beef calf lots sired by a single breed. Materials and Methods Data were available on 93,081 lots marketed through 189 summer video auctions from 1995 to 2018. The Cochran-Armitage trend test was used to determine presence of an increasing or decreasing trend, with P ≤ 0.05 considered significant. Results and Discussion Nationally, the percentage of Brahman-influenced lots decreased (P Implications and Applications Nationally, percentage of Brahman-influenced lots decreased, but it remained static in regions with a relatively hot and humid climate. Market signals from packers may influence decisions, and commercial beef producers should appropriately consider environment, buyer demands, and available resources when making breed composition and trait selection decisions.

Factors Affecting the Sale Price of Bred Heifers and Bred Cows Sold Through Superior Livestock Video Auctions

Factors Affecting the Sale Price of Bred Heifers and Bred Cows Sold Through Superior Livestock Video Auctions

Region of Origin in the United States Affects Price Premiums Associated with Value-Added Health Protocols of Beef Calf Lots Sold Through Summer Video Auctions from 2010 Through 2018

Region of Origin in the United States Affects Price Premiums Associated with Value-Added Health Protocols of Beef Calf Lots Sold Through Summer Video Auctions from 2010 Through 2018

200 Effect of value-added health protocols within region on the sale price of beef calf lots sold through summer video auctions from 2010 through 2018

Abstract The objective was to quantify effects of value-added health protocols within region on sale price of beef calf lots sold through video auctions while adjusting for all other factors that significantly influenced price. Descriptive characteristics of lots were obtained from a livestock video auction service in an electronic format. Data were available on 43,242 lots sold through video auctions from 2010 through 2018. All lot characteristics that could be accurately quantified were used to develop a multiple regression model that evaluated effects of independent factors on sale price using a backwards selection procedure. A value of P &amp;lt; 0.05 was used to maintain a factor in the final model. A lot was categorized into one of five health programs: 1) VAC 34 or 34+, 2) VAC 45 or 45+, 3) Weaned: viral vaccinated, 4) Non-weaned: viral vaccinated, and 5) VAC 24. Calf lots originated from one of five U.S. regions: West Coast, Rocky Mountain/North Central, South Central, Southeast, and Northeast (excluded due to few lots). In the West Coast, lots qualifying for VAC 45 or 45+ and Weaned: viral vaccinated sold for similar (P = 1.00) prices ($168.71 and $168.80/45.36 kg BW, respectively), but at prices greater (P &amp;lt; .0001) than calves administered all other health protocols within that region. Within the Southeast region, lots qualifying for VAC 45 or 45+ and Weaned: viral vaccinated sold for similar (P = .16) prices ($168.37 and $169.28/45.36 kg BW, respectively), and again at prices greater (P &amp;lt; .0001) than calves in all other health programs. In both the North Central and South Central regions, lots meeting the requirements for VAC 45 or 45+ sold for the greatest (P &amp;lt; 0.05) price ($175.25 and $171.80/45.36 kg BW, respectively). Differences in sale price of calves qualifying for various health protocols suggests the value of these programs perceived by buyers varies by region.

198 Sale price of Holstein feeder steer lots relative to other breed descriptions sold through Superior Livestock video sales from 2010 through 2018

Abstract The objective was to determine relative value of Holstein feeder steer lots compared to steer lots of other breed descriptions sold through video auctions while adjusting for all other factors that significantly influenced sale price. Data were analyzed from 14,075 lots of feeder steers sold through 211 livestock video auctions from 2010 through 2018. All lot characteristics that could be accurately quantified or categorized were used to develop a multiple regression model that evaluated effects of independent factors on sale price using a backwards selection procedure. A value of P &amp;lt; 0.05 was used to maintain a factor in the final model. A lot was categorized into one of four breed descriptions: 1) English, English crossed, 2) English-Continental crossed, 3) Brahman influenced, 4) Holstein. Average weight and number of steers in lots analyzed was 363.2 ± 50.6 kg BW and 121.1 ± 110.3 head, respectively. English, English crossed lots sold for the greatest (P &amp;lt; 0.05) sale price ($152.39/45.36 kg). English-Continental crossed lots sold for the second greatest (P &amp;lt; 0.05) sale price ($150.61/45.36 kg). Brahman influenced sold for the third greatest (P &amp;lt; 0.05) sale price ($148.75/45.36 kg). Holstein lots sold for the lowest (P &amp;lt; 0.05) sale price ($110.56/45.36 kg). To determine potential change in relative value of Holstein feeder steers from 2010 to 2018, data were analyzed in three-year increments. In all three-year increments, Holstein feeder lots sold for the lowest (P &amp;lt; 0.05) sale price compared to the other breed descriptions of beef steer lots. The average discount of Holstein feeder lots relative to other breed descriptions was $33.19/45.36 kg BW in 2010–2012, $42.96/45.36 kg BW in 2013–2015, and was the greatest in 2016–2018 at an average discount of $46.24/45.36 kg BW, likely indicating lessening interest in the feedlot sector to feed Holstein steers to harvest.

15 Factors affecting the sale price of bred heifers sold through Superior Livestock video auctions from 2010 through 2017

Abstract The objective was to evaluate potential factors influencing sale price of bred heifers sold through a video auction service. Descriptive characteristics of lots were obtained through a livestock video auction service. Data were available on 1,779 lots of bred heifers sold through video auctions from 2010 through 2017. Multiple regression with a backwards selection procedure was used to determine factors influencing sale price. Eleven factors were included in the original model. These were year, weight (linear and quadratic), region, breed description, weight variation, origin, frame score, flesh score, and size of lot (linear and quadratic). Size of lot (linear and quadratic) and weight (quadratic) did not affect sale price (P &gt; 0.05) and therefore were not included in the final model. Breed description of the lots was characterized into five groups: English-English cross, English-Continental cross, Black Angus sired out of dams with no Brahman influence, Red Angus sired out of dams with no Brahman influence, and Brahman influenced. The United States was divided into five regions: West Coast, Rocky Mountain/North Central, South Central, South East, and Northeast, which was excluded from analysis due to few lots originating from this region. Lots of bred heifers sold for the lowest sale price (P &lt; 0.05) in 2010 at $955/head (Table 1). In 2015, lots sold for the highest price (P &lt; 0.05) compared with all other years ($2,725/head). Those lots originating from the Rocky Mountain/North Central region sold for the highest price (P &lt; 0.05, $1,677/head). Red Angus sired lots sold for the highest price (P &lt; 0.05, $1,711/head) compared with all other breed descriptions. There was an $85.00 increase in price for every 45.36 kg increase in weight. Understanding factors influencing sale price of bred heifers will allow producers to make more informed decisions.

14 Effect of implant status and non-hormone treated cattle status on sale price of beef calves-Superior Livestock Video Auction

Abstract The objective was to determine the sale prices of beef calf lots enrolled in the non-hormone treated cattle (NHTC) program and those that received implants, sold through summer video auctions from 2010 through 2018. Data analyzed were collected from 67 summer livestock video auctions from 2010 through 2018. There were 40,941 lots of beef calves used in the analyses. All lot characteristics that could be accurately quantified or categorized were used to develop multiple regression models that evaluated the effects of independent factors on sale price each year using a backwards selection procedure. A value of P &lt; 0.05 was used to maintain a factor in the final models. The NHTC program is a USDA-approved program created in 1999, when the European Union and the United States agreed to control measures for trade of non-hormone treated beef. By definition, these cattle could not receive growth-promoting implants. The percentage of lots enrolled in the NHTC program grew from 5.2% to 23.8% from 2010 through 2018 (Table 1). The largest increase was 8 percentage points from 2017 to 2018. For seven of the nine years, premiums were associated with NHTC lots. The added value for a lot of beef calves enrolled in the NHTC program ranged from $1.02/45.36 kg in 2013 to $4.04/45.36 kg in 2014. In the nine years of analysis, implant status did not result in price reduction in any year. While the percentage of NHTC lots grew, we did not see a corresponding decline in the value of implanted lots.

Breed composition affects the sale price of beef steer and heifer calves sold through video auctions from 2010 through 2016

ABSTRACT Objective The objective was to quantify the effect of breed composition on sale price of steer and heifer calves sold through a single livestock video auction service from 2010 through 2016. Materials and Methods Data were available from steer (29,103 lots) and heifer (18,955 lots) calves sold in 164 unique video auctions through one livestock video auction service. A multiple regression model using a backward selection procedure was developed for each calf sex to quantify effects of independent factors on sale price. A value of P Results and Discussion Breed description of steer and heifer calf lots affected sale price (P Implications and Applications Sire breeds selected, buyer preferences, and marketing venues of both steer and heifer calves should be considered holistically by producers so maximal calf values are realized when sold.

Trends in “Natural” Value-Added Calf Programs at Superior Livestock Video Auction

Trends in “Natural” Value-Added Calf Programs at Superior Livestock Video Auction