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General Sales Terms and Conditions
1. To qualify, feeder cattle lots must be consigned with the auctionmarket at least two weeks prior to the sale. Grouping cattle into uniform load lots(45,000 to 50,000 pounds) according to sex, breed, weight and grade is recommended.
2. All consignors must designate a licensed WV Livestock Market as anagent for the sale and delivery of the described livestock.
3. Each lot of feeders will be sold by auction to the highest bidder.
4. Each lot will be graded by the WV Dept. of Agriculture using USDAfeeder grades. A complete written description on each lot will be available includinggrades, breeds, weights, flesh condition, health and delivery.
5. A $6.00/calf or $7.00/yearling commission and $1.00 per head beefpromotion checkoff is charged on cattle sold ($7.00 & $8.00 total). A producer mayelect to NO SALE or (withdraw) cattle from the sale; however, doing so, he agrees to pay a$2.00 per head "NO SALE" fee. If the producer elects to NO SALE the cattle, hemust do so before the next lot is offered for sale.
6. Special circumstances of weigh conditions may vary - weigh conditionswill be described on each lot offered. All cattle weighed on farm scales will require apercentage shrink. Cattle will be weighed on certified scales.
7. If estimated weights are used at the time of sale, a sliding adjustmenton price must be provided to buyers on any lot of cattle that has an actual weightdifferent than advertised. All adjustments will be determined from the advertised averageweight. The variance for adjustment will be announced at sale time to correspond withmarket conditions. Cattle that are not picked up within 10 days of sale will be adjustedup two (2) pounds per head per day from the advertised average weight (See Example Page).
8. Acceptance of sale price and terms of sale will be consummated with abinders fee of $50.00 per head or established credit with the market. The binders fee willbe held in a custodial account by the market with the balance of the payment due when thecattle are weighed.
9. Financial arrangements will be handled through one of the followingways prior to the movement of the cattle from a local area: a) check, plus a letter ofcredit to the stockyards for the value of the purchase or b) bank transfer of funds.Arrangements for electronic transfer of funds will be made between purchaser's bank andthe stockyards prior to the loading day.
10. WV Dept. of Agriculture graders and the livestock market agent willsort unmerchantable cattle (ie. stags, cripples, bulls, pink eye, unthrifty). Any cattlenot fitting the lot descriptions upon delivery shall be rejected and returned to theproducer's farm at the discretion of the marketing agent.
11. If the cattle are weighed at the farm, the consignor will help loadcattle on the buyer's truck. Loading and weighing cattle will be supervised by arepresentative of the stockyards, and/or Extension or Dept. of Agriculture, at an approvedand inspected scale.
12. A buyer must provide a 24 hour notice before picking up the cattle.Arrangements for loading cattle will be handled by the livestock market.
13. It is the responsibility of the seller to haul the cattle to theapproved scales for weighing.
14. Liability for the cattle passes to the purchaser, or the purchaser'scarrier, when the cattle are loaded on the truck.
15. The legal title to the cattle passes from consignor to buyer whenfinancial arrangements are completed by the livestock market.
16. Each consignor will endeavor to assure buyers of truck-load lots or totransport 20- 25 animals up to 50 miles to assist in combining loads.
17. Each consignor that guarantees open heifers agrees to reimburse thefirst purchaser 20% of the purchase price. In no case will the refund exceed $100.00 perhead. A veterinarian's or county extension agent's certificate will constitutesatisfactory proof. Expiration date for filing claims will be eight (8) months after dateof sale.
18. Each consignor of steers agrees to reimburse the first purchaser 10%of the purchase price on any calf determined to be a bull or stag at time of sale. Aveterinarian's or county extension agent's certification will constitute satisfactoryproof. Expiration date for filing claims will be 15 days after date of sale. In all casesproof of origination and/or owner must be provided.
19. The livestock market will act on the consignor's behalf to negotiate asatisfactory settlement regarding any discrepancies.
20. Teleauction will be available; buyers must make special arrangementswith the stockyard management prior to sale day:
BOARD SALE PRICE ADJUSTMENT EXAMPLE
A sliding scale adjustment will be utilized when the average weight of the cattle ismore than (+/-) 10 lbs. from the advertised average weight. In this example a $.03 priceadjustment has been established. This means a $.03 per pound adjustment is used when theaverage weight of the cattle is more than 10 lbs. from the advertised average weight. Theadjustments will be announced on sale day to reflect the market.
A lot of steers that average 750 lbs. selling for $75.00/cwt will be subject to theadjustments in the examples below.
Average weights between 740 to 760 have no adjustments.
Average weights less than 740 or greater than 760 lbs. are adjusted (+/-) $.03 per lb.
All adjustment pounds are calculated from the advertised average weight. Priceadjustments will be established to reflect market conditions and will be announced beforeeach sale.
Steers averaging 780 lbs. have an adjusted sale price of: $74.10
780 - 750 = 30 lbs. 30 x $.03 = $.90
$75.00 - .90 = $74.10
Steers averaging 830 lbs. have an adjusted sale price of: $72.60
830 - 750 = 80 lbs. 80 x $.03 = $2.40
$75.00 - 2.40 = $72.60
The reverse is also in effect!
Steers averaging 705 lbs. are adjusted to $76.35
750 - 705 = 45 lbs. 45 x $.03 = $1.35
$75.00 + 1.35 = $76.35
Steers averaging 670 lbs. are adjusted to $79.80
750 - 670 = 80 lbs. 80 x $.03 = $2.40
$75.00 + 2.40 = $77.40
ADJUSTMENT FOR DELAYED DELIVERY
All cattle that are not picked up within 10 days will have the average weight increasedtwo (2) pounds per head per day for each day over 10. Special arrangements made to holdcattle beyond 10 days without penalty must be made and agreed upon by both the consignorand the buyer.
Steers sold to average 750 lbs. that are picked up 5 days late will be adjusted to 760lbs.
5 days x 2 lbs./day = 10 lbs.
750 + 10 = 760 lbs average
WV LIVESTOCK MARKETS
Buckhannon Stockyards 304-472-5300; WED. 1:30 Sam Garrett/Charlie Helmick
Weston Livestock Market 304-269-5096; SAT. 2:00 CD Cole
South Branch Stockyards 304-538-6050; WED. 2:00 Roger Pratt
Preston Farmers Market 304-789-2788; Home 304-789-6811; FRI 2:00 Delores Pomeroy
Riverton Stockyard 304-567-2551; Hansil Hedrick
Pocahontas Producers Coop 304-799-6593; TUE 2:00 Dave Newman/Bob Keller
Central WV Livestock Market Assn. 304-462-8420; Jackson's Mill (Fall) Marge Burke
Ritchie County Coop Market 304-643-2636; Harrisville (Fall)
Elkins Stockyards Inc 304-636-0500; SAT. 1:30 CC Conaway
Parkersburg Livestock Sales 304-489-2255; SAT. 1:00 Jay Morgan
Bluegrass Market Inc 304-645-1383; SAT. 1:30 Bill Irons/Charles Long
Alderson Livestock 304-445-2945; FRI. 2:00 Bill Morgan/Dean Hansen
Jackson County Livestock 304-372-9110; THU. 2:00 Dwight Conrad
New River Livestock Market 304-253-6581; WED. 1:30 Mike Richmond
Ohio County Livestock Auction 304-547-0849; TUE. 1:00 Alice Richmond
Livestock Market of Spencer 304-927-4817; FRI. 7:30 Myron Bailey