dairySTOCKexchange FUTURES

The cattle selling on this platform are offered for future delivery, greater than 30 days from the lot’s expiration date.

Each lot has a specific future delivery contract with the Asking price, Offering Expiration Date, Delivery Window, Cattle Details

A Buyer can place bid on the lot at any time it is listed. The bid placed will be considered the offer on the load, There is NOT a poxy bid option, It raises the bid price to the full bid price placed.

Example: Lot 101 consist of 38 Holstein springers due in August 2026. The asking price is $3200 per head. The bidder enters a bid of $3000. The platform will show the full bid of $3000 and that is the offer to the seller on the load.

If the price bid is the full asking price and the sale is done and the lot is sold to the bidder per the terms of the lot contract.

If the price bid is less than the asking price, K&A will contact the seller to see if they are willing to accept the bid or hold to the asking price. If they decide to accept the bid, K&A will contact the buyer and confirm the purchase.

The seller can choose to accept any bid anytime prior to the expiration date of the lot listing

Each lot will be offered under one of the following pricing plans

*Flat Price Contract (FPC) These cattle are sell for the agreed upon price realized on the platform and all other the terms of the contract.

Example: Lot 101 consist of 38 Holstein springers due in August 2026. On 3-1-26 it is sold for $3200 per head for delivery 6-1-26 to 6-15-26. The Buyer is required to pay a $200 per head ($7600) good faith down payment at this time and both parties sign the contract, which is held in K&A Custodial account until settlement is made. 6-1-26 the buyer notifies K&A that they would like the load delivered 6-12-26. K&A confirms the date with the seller. 6-8-26 The down payment ($7600) is credited to the total sale price and the buyer is invoiced $114000 for the balance due on the load. Full payment of the balance is due to Kreeger & Associates prior to loading. The buyer takes possession of the heifers on 6-12-26

*Basis Contract (BC) The basis is figured off of a blueprint index or CME contract. The buyer is bidding on the amount to be paid (Basis) over or under the blueprint index or CME contract price the week prior to loading.

Example: Load 101 consist of 38 Holstein springers due in August 2026. On 3-1-26 it is sold on a Basis contract for $200 over the blueprint Springer Index for delivery 6-1-26 to 6-15-26. The Buyer is required to pay a $200 per head ($7600) good faith down payment at this time and both parties sign the contract, which is held in K&A Custodial account until settlement is made. 6-1-26 the buyer notifies K&A that they would like the load delivered 6-12-26. K&A confirms the date with the seller. 6-8-26 The purchase price is calculated by using the bluprint Springer index close on 6-5-26 for the base price ($3420) + the basis realized on the sale ($200) for a total purchase price of $3620 per head. The down payment of $7600 is credited to the total sale price and the buyer is invoiced $129960 for the balance due on the load. Full payment of the balance is due to Kreeger & Associates prior to loading. The buyer takes possession of the heifers on 6-12-26

*Options Contract: With this sale the seller is selling an option to purchase the cattle per the terms of the contract. The heifer price is either a set flat price or basis price against the blueprint Index or CME Contract. The buyer is buying the right to purchase the cattle per the terms of the contract, but it is not an obligation to purchase them. When bidding on an option contract the bid price is the cost of the option. Option cost will be due when the sale is closed and contract is signed. The option cost is non refundable, but will be held in the K&A Custodial account until the cattle are loaded. Within 14 days of the option expiration the buyer will inform Kreeger & Associates of there intentions with the option.

Example: Lot 101A is an option on load 101 consisting of 38 Holstein springers due in August 2026 priced at $3200 per head and to be delivered 6-1-26 to 6-15-26. On 3-1-26 the option is sold for $2500. The buyer is required to pay the full amount ( $5000) and both parties sign the options agreement. On 6-1-26 the buyer notifies K&A they will take possession of the heifers on and that they would like the load delivered 6-12-26. K&A confirms the date with the seller. 6-8-26 The buyer is invoiced $121600 for the full amount of the load. Payment is due to Kreeger & Associates prior to loading. On 6-12-26 the buyer takes possession of the heifers.

Example: Lot 101A is an option on load 101 consisting of 38 Holstein springers due in August 2026 priced at $3200 per head and to be delivered 6-1-26 to 6-15-26. On 3-1-26 the option is sold for $5000. The buyer is required to pay the full amount ($5000) and both parties sign the options agreement. On 6-1-26 the buyer informs Kreeger & Associates that they are going to let the option expire and not purchase the heifers. Nothing happens the seller is paid the option premium and can sell the heifers to a different buyer.

Each lot will be sorted at loading and if there is a heifer or cow that needs to be taken out we will sort her off or the buyer can come sort at loading if they want to sort their own cattle. Therefore, the number in a lot or purchased may vary from the lot listed on this sale.

Payment is due before the cattle are loaded, any adjustments will be handled at settlement and refunded or invoiced.

If the lot is list (OFI) Owner Furnished Information and K&A Team Member has not viewed the cattle. (FF) File Footage are pictures and videos of a former group sold. Both OFI & FF will be as listed and will be sorted at loading by a K&A Team Member.

Click on the REGISTER at top or bottom of the site to Bid Online, If you have already registered for a K&A online auction you can use the same login and password.

Contact any member of the sale team to Bid by Phone or with questions on the cattle or the sale process.

Thank You For Your Business

Chad Kreeger 517-294-3484

Paul Warner 517-231-8427

Brian Landis 574-536-5026

Shaun Hyde 989-287-2660

Gabe Papoi 989-444-8275

Clay Papoi 517-526-1917

Dave Whelen 517-403-7219

Dave Bennett 989-286-7244

Joe Sparrow 270-670-4178

Eddie Fredricksson 386-330-4152

Jamie Perry 715-923-7806

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