In 1902 Masterton's first saleyards were established on the north side of town. The yards needed to be close to where most of the stock were so the animals could be walked to the yards then walked to the meat works or buyers properties.

There were complaints that these yards were not central enough to where most of the stock came from so in July 1909 new sale yards were established at the site of the Solway A and P Society in the south end of town. This location proved to be unsatisfactory and in 1917 a group of livestock auctioneering firms set up a new, co-operatively owned, set of yards at Colombo Rd on the east side of town, the land now occupied by the netball courts.

With the importance of rail to transport livestock it was resolved by the co-operative to shift closer to the rail head at Waingawa, so in the late 1960's new yards were established at Norfolk Rd Carterton, where they remain today.