ONLINE saleyard AuctionsPlus has appointed former Meat & Livestock Australia chief economist Tim McRae to spearhead their market intelligence, insights, and forecasting efforts after a big growth in platform usage.
AuctionsPlus has reported a 173 percent annual growth in platform usage and a 266pc annual growth in the number of new users
The online and general auction platform has also experienced a 52pc growth in commercial cattle and sheep throughput leading to it transacting more than $1 billion worth of commercial livestock per year.
AuctionsPlus launched its market insights division AuctionsPlus Market Insights in May of 2019 and as a result of the growth, and to enhance its existing analytical capabilities, it has appointed Mr McRae.
AuctionsPlus chief executive officer Angus Street said Tim is a highly experienced red meat industry economist who he has worked extensively with at MLA.
“Tim also shares and is closely aligned with our values at AuctionsPlus, and we’re incredibly excited to have him join us as our chief market analyst, where he will lead our market intelligence and forecasting efforts and mentor our growing number of junior analysts.”
Mr McRae said AMI will be a service that will be unique within the Australian livestock sector, underpinned by the world-class online AuctionPlus selling platform.
“Given the depth, volume and range of categories of livestock sales utilised by the online platform, the ability to analyse and communicate with producers directly is truly exciting.”