Mayor Jim Gray and Fayette-Urban county councilmembers joined the owners and employees of the Blue Grass Stockyards to cut the ribbon for the official opening of the organization's new facility.
“This is a proud day in our city,” Gray said. “This $600-million-a-year business, with deep roots in our agricultural economy, is back, and will be open for business on Monday in a facility that sets new standards for the industry.”
The 232,000-square-foot facility, located off I-75 near the Kentucky Horse Park, includes 40,000 square feet of office and retail space. A regional marketplace on site features more than 20 businesses, including broker Bromagen Commodities, local meat market The Chop Shop, a restaurant, a clothing store, an exhibit space and other services targeted to serve its cattle-farming clientele.
“It has been a dream of Gene Barber’s for 20 years to have a one-stop shop for our customers. It is designed around the ease of our customers,” said Jim Akers, chief operating officer for the Bluegrass Stockyards.
Gene Barber and his brother, Larry, are second-generation owners of Blue Grass Stockyards,
along with additional partners Eric Barber, Scott Bucher, Austin Paul, David Holt, Jim Dause, Brian Horn and Johnny Lakes. The new $12 million facility replaces the Stockyards’ former home, which was destroyed by fire in January 2016.
Mayor Gray emphasized the importance of the Stockyards to the local economy.
“Blue Grass Stockyards is to cattle what Keeneland is to Thoroughbreds,” Gray said. “It is the biggest cattle market group east of the Mississippi River. Because of its sales volume, it effectively sets the cattle price structure for the entire Eastern United States.”
In 2015, approximately 106,000 animals were sold at the Lexington market, and an additional 50,000 were sold online out of the Stockyards offices in Lexington. Farmers were paid approximately $200 million for that livestock. Altogether, at its seven locations in Kentucky and through online sales, the market sells approximately $600 million in cattle each year.