January 23, 2008

UK farmers to invest GBP.5 million in Stoneleigh's new livestock market

A new livestock auction market, costing GBP.5 million, is being built in Stoneleigh, Warwickshire.

The market is owned and operated by farmers at the National Agricultural Centre.

Funding for the project has been by farmer subscription, which has raised around GBP500,000, an investment of GBP100,000 from the Royal Agricultural Society of England, the site owners, GBP200,000 in grant from regional development agency, Advantage West Midlands and GBP50,000 from Howkins and Harrison.

The project will include a large sale ring with all associated penning, offices and fully computerised settlement facilities.

Initially, there will be one sale a week, on Mondays, and five special Friday sales during the year.

Stoneleigh beef and sheep farmer and Rugby Farmers' Mart Chairman, Richard Heckford, said that the livestock market will boost the meat industry in the Midlands.

Heckford said the market needs to achieve a weekly throughput of 100 cattle and 1500 sheep to be a viable market. He added that the group is confident on exceeding those numbers.

Work began at the turn of the year and the market is expecting to receive its first lots in the ring by mid to late April.