Cargill Cattle Feeders has sold its Lockney, Texas, feed yard to Lofton Trust, a family-owned cattle operation based in California.
Terms of the transaction, which was completed last week, were not disclosed.
The feed yard, located in the Texas Panhandle near Plainview, opened in 1970 and was purchased by Cargill in 1986. It currently has capacity for 60,000 cattle and employs about 20 people.
Cargill in 2013 announced the future closure of Lockney, related to the shutdown of the company’s Plainview, Texas, beef processing facility on Feb. 1 of that year.
The processing plant closed primarily due to drought that had severely limited the supply of cattle in the region.
Cargill said because of the location of its other feed yards and processing plants, the Lockney facility wasn’t needed. Cargill continues to operate four major feed yards in Texas, Kansas and Colorado with capacity of approximately 300,000 cattle.