Rural servicing company Elders has opened a saleyard at Matamata in an attempt to gain a share of the dairy and beef cattle trade in Waikato and Bay of Plenty.
The venture is a partnership between Elders and a local investor.
Elders has saleyards throughout New Zealand, including some jointly owned and operated with its main competitor PGG Wrightson.
But managing director Stuart Chapman says there was a gap in its network in Waikato which the new facility will fill.
The Matamata saleyard will host its first sale on Monday and Mr Chapman says it already has good bookings.