Largest Video Auction in History Sees Dawn Of A Global Age

US - 30% of Eligible Calves Were Age and Source Verified, Indicating a Growing Industry Trend Towards Third Party Verification
calendar icon 11 October 2007
clock icon 2 minute read

Cattle markets are outsourced for third party verification

Integrated Management Information, Inc. (IMI Global) (OTCBB: INMG), a leading provider of verification and Internet solutions for the agricultural/livestock industry, today announced that 30% of eligible calves at Superior Livestock's largest ever video cattle auction were age and source verified. Of the record 320,000 animals sold at auction, 250,000 calves were eligible for age and source verification and 75,000, or 30%, participated in that process -- strong evidence of growing industry recognition of the value of third party verification.

Superior Livestock Auction, based in Fort Worth, TX, is the nation's leader in marketing load-lots of cattle via satellite and Internet video auction, handling almost two million head of cattle annually. IMI Global has been working with Superior since March 2006 to implement age and source verification processes -- branded Superior Verified -- to give participating cattle producers access to third party verification of their cattle -- a designation that can earn producers significant premiums at auction and that makes cattle eligible for export to Japan and other markets.

Jim Kelley, Business Manager of Superior Livestock Auction, said, "We selected IMI Global as the lead partner on this project because we needed third party verification from a market leader who truly understands the verification business. IMI Global responded by developing an excellent USDA Process Verified Program that met our specific needs and those of our participating cattle producers." Kelley said the 320,000 cattle sold during the six-day auction were 50,000 more than the previous record, adding, "The interest in source and age verification has tripled over last year, and Superior Verified is the number one choice of Superior consigners."

"We are pleased to have played a part in Superior Livestock's record-breaking auction," said Leann Saunders, VP of IMI Global. "By implementing Superior Verified for participating cattle producers, Superior Livestock Auction strengthened its commitment to providing the most advanced video auction service available in the nation. At the same time, it reinforced IMI Global's reputation for providing leading edge verification and identification services to leading players in the livestock industry. There is definitely a distinctive and lucrative market developing for livestock with third party verified credence attributes. We look forward to strong growth in both customers and products in the third year of our partnership with Superior."

IMI Global works with many of America's leading meat industry supply chains, helping them build consumer confidence and enable brand differentiation. IMI has helped these agribusinesses build and audit USDA verification programs. In some instances these programs are mandatory for export markets.

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