August 4th, 2018 at 10:00am
Resale the Meat
This options allows you to give the processor the option to resale the carcass. This is only for Large Animals (Steer, Lamb Goat, Pig).
At the Auction, you will mark "resale". You are allowing the processor to resell the carcass which means you WILL NOT take the meat home. You will get a discount off of your price you paid per pound. This discount is based off of the current market price for that species.
2016 Auction Example:
You pay $2.75 per pound for a 1150 lb steer. You mark resale on your auction paperwork. That day's cattle market price is $0.95 per pound.
Total animal price: 2.75 x 1150 = $3162.50
Resale Price: 0.95 x 1150 = $1092.50
Price Buyer Pays: 3162.50 - 1092.50 = $2070.00
It is important to remember that the exhibitor will receive the full amount for their animal and not the discounted price!
Your auction purchase is tax-deductible to the extent permissible by law. For further information contact your tax professional.