By FarmAfield | Feb. 14, 2018
February 14th, 2018 - FarmAfield is on a mission to change the way consumers and farmers connect to each other. Their marketplace provides consumers with innovative opportunities to easily invest in agriculture, resulting in a uniquely diversified portfolio for them and lower income volatility and new sources of capital for farmers.
The company is launching its first product to the public, a beef cattle marketplace, allowing individuals to purchase cattle through FarmAfield and have them raised through production contracts with cattle feeders in Nebraska. These production contracts typically have durations of 6-8 months, allowing individuals to purchase cattle easily without being locked into a multi-year commitment.
With FarmAfield's beef cattle marketplace, individuals will be able to choose between several types of cattle using the online platform, purchase them securely, and monitor their growth and status online. The marketplace requires no minimum contract size.
Mitch Minarick, FarmAfield's founder, said of the product launch, "This is an exciting time in the agriculture industry and an exciting time for FarmAfield. Never has it been easier to facilitate remote collaborations between people, and our product can help bring these new opportunities to agriculture."
The USDA reports that all cattle and calves in the United States totaled 94.4 million head this January. Last year, all US cattle receipts were valued at $67 billion.
"More than ever, farmers and ranchers are looking for new sources of capital investment. The market is looking for innovations and platforms to make improvements to farmers’ bottom lines. We now offer consumers a unique way to address this need by providing an alternative and enjoyable way to invest in agriculture," said Minarick.
Beef cattle represents only the first offering on the FarmAfield marketplace; additional types of crops and livestock are planned to be offered on the platform soon. Farmafield is seeking new participants in the beef cattle marketplace to provide feedback regarding their user experience and suggestions for other agricultural products they would like to see offered in the future.
FarmAfield provides a marketplace of agricultural production contracts designed to streamline collaborations between people who care about agriculture. FarmAfield is headquartered in Lincoln, Nebraska and has received a Phase I grant from the National Science Foundation through their Small Business Innovation Research program, as well as support from the Nebraska Department of Economic Development. FarmAfield is currently in the application process for Phase II of the NSF SBIR program. Learn more about FarmAfield at www.farmafield.com.