Canadians to sell livestock on the net

29 April 1999

Canadians to sell livestock on the net

A CANADIAN company called e-Auction Global Trading plans to sell livestock on the internet, according to a report in the Financial Times.

The company was founded last year by consolidating two small Canadian firms providing technology enabling the Ontario Livestock Exchange to conduct auctions on closed networks.

The Nasdaq-listed company expects in the next month or two to conduct the worlds first real-time livestock auction over the internet.

The group expects to go into partnership with reputable livestock auction houses.

Agents from the auction houses would inspect and grade cattle before they are offered for auction, putting their assessment online.

Technology forecaster Forrester Research sees the internet commodities auction market expanding to as much as £20 billion by 2002.

E-Auction will also be looking to expanding out of livestock into other commodities such as grains.

• Financial Times 29/04/99 page 38