We recently broke the news to cattle folks everywhere that Oklahoma National Stockyards (ONSY) is up for sale. We confirmed this news last week from Stockyard President, Jerry Reynolds. Since posting the news, we’ve seen lots of speculation on the future of ONSY. This week The HBR got an exclusive opportunity to interview Jerry and get more details out of him on the listing of the historic stockyards.
The HBR: “What does the timeframe for a sale look like?”
Jerry: “All I can say is we have been listed for sale, that said, I don’t think there is a website that shows it for sale anywhere. We have a real estate group that is promoting the sale of the stockyards, Newmark is their name. I cant speak to a timeline other than to say we are currently not under contract with anyone. That could change this week or next or not for months. These things take time.”
The HBR: “Will it be sold as a turn key business? What will happen to the commission firms?”
Jerry: “It is and will continue to be business as usual for ONSY, its customers, and the 9 commission firms. We do not anticipate any changes in the near future. That said, we have several interested parties that have expressed an interest in possibly purchasing the stockyards. These discussions have all been consistent with new ownership preserving the rich history of our 110+ year old facility. We are the last of the true posted stockyards with commission firms. These firms play a critical role in building and cultivating the relationships with all of our cattle producers across not only the state but the region. I DO NOT anticipate any changes in that model based on a change of ownership.”
The HBR: “Will the preservation of the ONSY be written into the sale agreement?
Jerry: “There is not contract at this point as I have stated so I have no terms to share with you. We hope potential new local ownership will appreciate our rich history as well as the economic impact we provide to a vast demographic and region. Our goal will be to continue to provide the best possible market and location for cattle producers to sell their cattle as we have for the last 110+ years.”
The HBR: “Will you stay on as President?”
Jerry: “My role as President will be to continue providing the best service possible to the cattle producers of our region. Agriculture always faces adversity in the form of drought, increasing government regulations, and market fluctuations. My goal is to prepare ONSY to thrive in the ever changing world that is Agribusiness.”
