By Stephen Smoot
For nine decades plus almost one year, the South Branch Valley Livestock Exchange has served as part of the bedrock of the local livestock industry and community. Recently, however, the operation announced that it will shut down and sell the assets of “one of the largest sellers of barn livestock in West Virginia.”
Area economic development and elected officials agree. Said Mallie Combs, Hardy County Rural Development Authority Director, “This was a very successful business operation over the years that allowed for the sale and purchase of local livestock.”
Hardy County Commissioner David Workman has devoted decades to local and regional agriculture development. He concurred with Combs in saying “it’s been an important economic driver for both Hardy County and the region.
He shared that the long-time operators, Roger Pratt and Gary Vance, concluded that “now would be a good time to pass the torch.”
South Branch Valley Livestock Exchange has done more than facilitate the commerce of animals; it has also served as a guardian of the ancient lineages of cattle that make those of the South Branch Valley a superior type. The genetics include those of superior shorthorned cattle introduced less than three decades after American independence.
Workman lauded the business for protecting “the high quality genetics present here in the South Branch Valley area.” He added that the business contributed mightily to helping new and established farmers and farming families to raise livestock.
With the Exchange serving as an integral part of the foundation of local agriculture, “there’s plenty of apprehension over what the future of the Moorefield facility will be,” stated Workman.
He explained that with property “bringing prices that it is in Moorefield proper,” that the facility might attract the attention of a developer more interested in residential or other business purposes rather than continue a livestock exchange.
As the announcement of auction described, the Exchange property covers “over 11 acres (with) a small block barn and a large metal building which is currently used as a garage.” Additionally, “while the yards is very old, it has been modified over the years to meet the changing cattle business.”
Workman shared that two local groups that intend to continue the property in its current business are working toward putting together bids, but all share “apprehension” that an outside group “with deep pockets” will try to obtain the property for other development. If either of the two groups exploring it now obtain the property, Workman states “it will likely continue as a livestock facility.”
“Stockyard regulations are a potential issue,” he shared, explaining that federal law regulates payment in ways that can produce problems for livestock exchanges anywhere.
Livestock exchanges make money for helping to facilitate sales. As Workman explained, “those who sell livestock must get a check for the sale within 24 hours,” from an operation like South Branch Valley Exchange, but the stockyard may have to wait up to 30 days to get compensated for its services.
He advised that “you need a $5 to 6 million line of credit to operate, given those constraints.”
The auction will take place on Feb 14 at 2 p.m. at 341 Clay Street in Moorefield, the site of the business.
