True or False: The livestock auctioneer must establish reasonable bid increments customary for a livestock auction.

Establishing reasonable bid increments is an essential part of the auction process, particularly in a livestock auction where the value of animals can vary significantly. The auctioneer plays a crucial role in facilitating the bidding process, and reasonable bid increments help maintain the auction's pace and ensure that it remains competitive.

Furthermore, bid increments can be influenced by the type of livestock being auctioned, the total number of lots, and the buyers' engagement levels. By setting customary bid increments, the auctioneer helps create an environment where participants feel comfortable and engaged, fostering an effective bidding atmosphere. This practice is standard in the industry to ensure fairness and transparency, which in turn helps achieve optimal sale prices for sellers.

The answer is true because it reflects the best practices in auctioneering and aligns with the responsibilities placed upon livestock auctioneers. Other options may suggest varying degrees of responsibility or context, which do not align with the general expectation that auctioneers must consistently establish these increments to facilitate a smooth and effective auction process.