Another option is to resale the animal to the processing plant for the current market price. By selling the carcass to the processor you will not take the meat home. You will however get a discount off your price per pound. This discount is based off the current market price per species which changes daily. Check the sale catalog for today’s current market price.
Market prices change daily so the current prices will be posted the day of the sale. Here are examples of average market price:
For this choice you will be responsible to pay for the difference between your bid and the current market price.
Your winning bid for a steer was $3.00/lb for a 1250lb steer (3 x 1,250=3750)
Market price on auction day for beef is $0.90/ pound (.90x 1250=1,125
Cost Buyer = bid price less market price (3,750 – 1,125=2.625)
Your auction purchase may be tax-deductible to the extent permissible by law. For further information contact your tax professional.
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