Lots sold online through StockLive increased by 75 per cent at the August store market at South-West Victorian Livestock Exchange (SWVLX), Warrnambool, since the April sale.
More than $430,000 worth of livestock was transacted via StockLive from 25 registered bidders and 308 online bids (36% of the sale).
Warrnambool stock agents association president Anthony Mahony said the month-to-month growth in sales via StockLive had contributed to an overall increase in buying audience for local vendors.
"Given the ongoing physical restrictions at the sales because of COVID-19, creating a broad and competitive market is very important, so having buyer confidence in the use of StockLive has been critical," he said
"We've not only seen an increase in local buyers purchasing via StockLive, but importantly the buying pool has expanded to include buyers from New South Wales and South-east South Australia. StockLive will remain a staple of the service we offer for our sales, even beyond COVID."
Scott Creek, owner/director at Creek Livestock, was a first-time online purchaser at the August sale.
"I purchased 79 head of cattle from nine pens on behalf of feedlots and backgrounders for the first time using StockLive. It was an easy process, I only missed out on one pen I was aiming for and I had a client out of Ballarat bid at CVLX last week purchasing 58 head. It's definitely a great option to access the different sales," he said.
StockLive manager Libby Hufton said the growth in online bidding at SWVLX was reflective of saleyards across the country.
"The results we've seen at SWVLX since we began working with the council and agent's association has grown every sale. This support is invaluable and demonstrates the commitment of the agents in ensuring their vendors are getting the best value for their livestock from full market participation," she said.
"Industry participants are adapting to the new way of working and have increased confidence in using StockLive, which is critical to complementing the physical sale and supporting the ongoing viability of the saleyards during this unprecedented period.
"We are happy to be facilitating online buyer confidence and increasing the competitive market for vendors, agents and saleyards and look forward to supporting this continued growth in Warrnambool."
