Producers are taking advantage of AuctionsPlus’ new forward contracting platform, Forward+, with more than 10,500 head of sheep and lambs listed since its launch in July.
With prices for lamb and sheep holding at strong levels, AuctionsPlus Business Development Manager, Zoe Macfarlan, said now was a good time for producers to consider locking in returns for later in the season.
“Spot prices are really strong at the moment, and that gives producers an opportunity to think ahead,” Ms Macfarlan said.
“Forward+ allows you to lock in a price now for when your lambs are ready later in the year. It’s about giving you some security around what you’ll make in a couple of months’ time.”
Ms Macfarlan said Forward+ was designed to provide producers with confidence and flexibility, while meeting processor demand for supply.
“Forward+ is a digitised forward contracting platform, where producers and agents can secure prices ahead of time. With processors still actively chasing supply, it’s a good time to make use of this option.”
There have been 15 processors onboarded to the platform, with listings attracting an average of 12 unique views.
Agents and assessors remain central to the Forward+ process, providing a trusted link between producers and processors that reduce risk for everyone.
“We’ve seen a lot of forward-thinking producers show real interest in Forward+,” Ms Macfarlan said.
Ms Macfarlan encouraged producers to discuss Forward+ with their agents to see if it suits their program.
“Our advice is simple: talk to your agent or assessor about Forward+. It’s another selling option to consider in a strong market,” she said.
“And for agents who haven’t yet onboarded, more than 100 already have, so now’s the time to get involved.”
Greg Seiler from Nutrien Walsh Hughes, Bourke, has been among the early adopters of the new Forward+ platform, listing and successfully selling 5,400 heavy wethers for a client.
"It's a simple, straightforward system that’s genuinely user friendly," Mr Seiler said. "It was very, very easy to enter an assessment. It took about a quarter of the time of a normal AuctionsPlus listing."
Known for his attention to detail, Mr Seiler initially found the character limit for assessments restrictive, but praised AuctionsPlus Business Development Manager Zoe Macfarlan for resolving the issue instantly.
"When something’s new, you’ve got to learn along the way," he said. "Any barriers we came across during the first assessment were fixed immediately."
Processors have also responded well.
"The feedback from processors has been generally positive," Mr Seiler said.
He believes the platform’s flexibility is a key advantage.
"There’s a lot of potential upside to selling lambs on Forward+. The process was seamless. We had numerous offers and could choose trucking dates to fit in with the rest of our livestock program. It was very, very user friendly."