Victoria’s fourth largest cattle saleyard by throughput will close in June 2024, with escalating land taxes at its location on Melbourne’s eastern metropolitan fringe forcing the decision according to its owner, the privately-owned Victorian Livestock Exchange.
The Pakenham Victorian Livestock Exchange transacts about 100,000 store and prime cattle a year, drawn mainly from Gippsland properties to the east and from the Yarra Valley to the north and the Mornington Peninsula to the south.
Managing director Brian Paynter said exponential rises in land values and a recent doubling in the…
