The Oklahoma National Stockyards has new ownership and operations of the stockyards are expected to continue.
The largest stocker and feeder cattle market in the world has new ownership.
The Oklahoma National Stockyards have been for sale for months, and recently it was announced it has been placed under a new contract, continuing as a stockyard, according to a press release.
Chris Franklin is named as the managing member of the group that bought the stockyards and said they are excited about the stockyards' new chapter.
"Our focus remains on supporting our customers, preserving the stockyards' role in Oklahoma's and the nation's agricultural economy, and fostering a thriving marketplace for the livestock industry," Franklin said in the press release.
The group plans to engage with the state's agriculture organizations.
Scott Blubaugh, president of the Oklahoma Farmers Union and American Farmers and Ranchers, said he's happy to see the stockyards remain, and it's a relief for those in agriculture.
"Truly, one of the last historic livestock markets in the United States is Oklahoma City and most all of those other, what we'd call the downtown or the big markets, are gone now," Blubaugh said. "Whether that's Chicago, and Denver, and Kansas City, and Fort Worth and they're all gone."
The Stockyards have been in Oklahoma City for decades. They opened in 1910 and, in addition to playing a part in tourism, Blubaugh said it's a crucial market that sets the price for the rest of the nation.
"So whatever cattle are bringing Monday in Oklahoma City really sets the tone for the sales and the rest of the nation," Blubaugh said. "Everybody looks to Oklahoma City to see what that market is. So very important."
Operations are to continue seamlessly, according to the news release.
Western Livestock Commission Company and Order Buying is one of the nine commission companies at the market. Ben Hale, owner of the company, said he's optimistic for the stockyards' future.
"It's an honor for our team at Western to play a role in preserving such a historic market," Hale said in a statement. "There's still work ahead, but we're committed to seeing it through — for the good of our industry and everyone it serves."
This report was produced by the Oklahoma Public Media Exchange, a collaboration of public media organizations. Help support collaborative journalism by donating at the link at the top of this webpage.
