A livestock auction is a public sale where farmers and ranchers buy and sell animals, such as cattle, sheep, and pigs. These auctions provide a marketplace for producers to showcase their livestock, allowing buyers to inspect the animals before placing bids. The highest bidder wins the animal, and the sale is usually conducted by an auctioneer. Livestock auctions can take place in person at a physical location or online. They play a crucial role in the agricultural economy by helping to determine the market value of animals and facilitating the transfer of livestock between producers and buyers.