SPAG021 · NEBRASKA · 12-MONTH ECONOMICSSPAG021 · NEBRASKA · 12-MONTH ECONOMICSCattle, hogs, corn and soybeans: $32.84B of 2025 Nebraska output measured by USDA, plus the $7.9B feeder-cattle trade into Nebraska feedlots that USDA receipts do not count. At full statewide penetration and the launch rates, that is roughly $53.8M of annual SPAG021 platform revenue, and $86M at the post-proof rates. Producers and buyers keep 88.5% of the value created. The Year-1 proof set touches only $196M of GMV.
Feeder cattle pay 2–4% to sell today, so SPAG021 charges 35 bps. Fed cattle pay no commission, so the case is price discovery and the take is a light 5 bps. Corn and soybeans mostly carry their cost in the basis, so the case is basis improvement at 15 bps. Hogs are about 99% contracted or packer-owned; the open slice is independent producers and feeder pigs, priced like fed cattle.
| Market | Annual GMV · 100% | Where the value comes from | SPAG021 launch take | Revenue · launch | Participants retain · launch | Participants retain · after proof |
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Three deliberately small pilots, each about $65M of physical GMV, form a comparable proof set across livestock, grain and oilseeds. The cattle pilot is feeder cattle, the commission channel.
A 100% penetration sensitivity view using each simulator's default assumptions. An economic ceiling, not a Year-1 adoption forecast.
Built state by state from 2025 USDA data with the same channel logic as Nebraska: fed cattle from each state's feedlot marketings, feeders from inshipments, hogs from state hog data, corn and soybeans from state crop values. See the US expansion sim for waves and the federal scenario.
| U.S. penetration | USDA-measured value through SPAG021 | 12-month SPAG021 revenue | What it means |
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All four pages read from one shared model, so a number can only change in one place. S = sourced from USDA or public data. A = modeled assumption, adjustable in the simulators.
| Market | Input | Value | Type | Source |
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