Feed manufacturers and livestock producers have a new tool to save time and reduce costs when buying bulk feed ingredients. A newly launched website, www.feedpail.com, is designed to connect buyers and sellers of bulk feed ingredients quickly and easily.
Swine, beef, dairy and poultry producers now have direct access to the feed ingredients they need through Feedpail.com. The free service allows users to see prices and availability of more than 50 bulk feed ingredients such as fats and oils, animal proteins, grain byproducts, minerals and more.
Each week more than $200 million of bulk feed ingredients are bought and sold outside of the futures and option exchanges. The buying and selling process often requires multiple phone calls, emails and negotiations to complete a transaction. This time-intensive trading is solved through technology with the free Feedpail online service.
Ryan Cooney, who developed the site, says people involved in feeding livestock are considering a larger number of ingredient options than ever before, but are limited by their available time and network of sellers they know. “FeedPail solves that with instant access to a large network of available ingredients and easy-to-use functionality,” Cooney said.
Feed costs are the largest single component in raising livestock. Therefore, any efficiency gained on sourcing ingredients can have a large impact across the industry. Feedpail is easy to use. Once an account is set up, sellers post available tons and buyers have the option to buy outright or bid on the tons. Users can search by feed ingredient and geography to find prices and availability. Once a quantity and price are agreed to, the contact information of the buyer and seller is shared so they can complete the transaction.
All sales are kept confidential and are subject to each party’s terms, conditions and policies.