The Fed Cattle Exchange, the only weekly fed cattle online auction for the cattle industry, has been acquired by Central Stockyards LLC from 5150 Productions Co. LLC.
Since 2016, the Fed Cattle Exchange has provided the cattle industry with weekly, cost-effective cattle auctions that provide a platform for price discovery through competitive bidding. The prices determined in the weekly auctions benefit the entire cattle industry and livestock futures markets by providing a transparent baseline price for weekly negotiated live cattle markets.
"The Fed Cattle Exchange is a vital tool to the cattle industry because it provides transparent price discovery," Central Stockyards president and chief executive officer Forrest Roberts said. "Our vision is that we can make the Fed Cattle Exchange even more valuable to customers and the entire cattle industry by using technical innovations to adapt to immediate industry needs."
Jordan Levi, manager of 5150 Productions, said, "The Fed Cattle Exchange has been a personal and professional passion since 2015. I am pleased the Fed Cattle Exchange is being acquired by a team with the technical resources and cattle industry experience needed to support and expand the Fed Cattle Exchange."
Surcy Peoples, director of operations for Central Stockyards, said the company looks forward to servicing existing customers of the Fed Cattle Exchange and earning the business of new customers. "We are working hard to bring new marketing methods to the cattle industry that support the benefits of negotiated trade and reward value creation," Peoples added.
The acquisition was effective as of July 24, 2020. Financial terms of the agreement were not disclosed.