Friday, December 1, 2023

Full dealing for agents in new StockX system

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An enhanced StockX livestock trading platform has been relaunched, four years after the original site opened.
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Designed for farmers to buy and sell stock directly to and from each other, the new platform also allows stock agencies to buy and sell, rather than just buy animals as was the case before. 

StockX has been working with agencies for 18 months on a redesign that works for them, managing director Jason Roebuck said. 

They can now have a branded presence online.

Processors can also buy stock through the platform.

About 1700 farming businesses across the country are registered to trade, Roebuck said. 

He expects about 60% of stock agents will be set up to use the site in the next couple of weeks.

The online auction works on the same basis as Trade Me and buyers have three, four or five days to lodge bids, depending on the term selected by the seller. When the reserve price is met the line is sold. Buyers also have an immediate buy-now facility, Roebuck said.

They can also set up automatic alerts by keying in descriptions or requirements of stock they want to buy.

Bidding on the site is anonymous and trades details are confidential to the parties involved.

Roebuck said buyers have access to photographs, videos and descriptions of stock listed. The sellers provide a warranty to the buyers that the stock sent to them fit the description of the stock they bought.

StockX means farmers do not have to spend time and money trucking stock to a sale yard, with the animals just being moved once from seller to buyer, providing animal welfare benefits, he said.

The platform is not designed to replace the sale yards system but is another channel to market.

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