Marketing of livestock is a farming process that involves certain decisions. The age, weight and fertility of the animals and many other factors all play a role. The main reason for marketing is economic: animals are sold for financial gain. The financial side of marketing includes the use of a receipt book, cheque book, electronic fund transfers (EFTs), VAT invoice and other related matters.
Most stock farmers are conscientious with these aspects, but fail to realise that they may be contravening other legislation unrelated to the South African Revenue Service (SARS). Legislation regulating the marketing of livestock protects the owner and all role players in the red meat value chain to whom livestock is delivered. To this end, the Stock Theft Act (Act 57 of 1959) and the Animal Identification Act (Act 6 of 2002) were promulgated. Both acts are still in force. The acts deal with two specific aspects of the marketing of livestock, namely the buying and selling, as well as the transport of animals – these are discussed briefly in this chapter. Anyone trading in livestock has to be familiar with all relevant legislation. This chapter deals with the main points of the legislation only and should not be regarded as comprehensive.