Last month, TMX Group announced the launch of a new, web-based subsidiary to connect U.S. and Canadian cattle producers in an online marketplace, called AgriClear.
“Today’s launch of AgriClear represents an important opportunity for TMX Group to apply the depth of expertise we have across our business lines to address client needs in a new market,” said Lou Eccleston, CEO TMX Group, said on June 16. “We are pleased to be at the forefront of major evolutionary steps in the U.S. and Canadian cattle markets.”
The platform enables producers to market or buy animals, making interested parties the drivers of the transaction process. They negotiate contracts and delivery details, and AgriClear facilitates the payment.
“I think the key part is that it’s not an auction, so it’s not time-bound,” AgriClear’s David Moss told RealAgriculture in an interview (included above). “And it’s empowering for both the buyers and sellers. They move from being a form of price-taker to becoming a price-maker.”
Moss says the platform also gives producers a chance to market cattle on unique attributes.
“They can load video, they can load pictures. If they’re registered cattle, they can put registration papers on there. They can really sell what’s different about their cattle.”