Mergers and rationalisation of livestock marts would have to take place along the lines adopted by the dairy industry over the past 20 years, Mr Sean O'Sullivan of Cork Co-Operative Marts told the ICOS conference.

In 1998, there were 62 livestock marts, almost as many as 20 years earlier, while throughput of cattle had halved. Staff costs account for about 60 per cent of operating expenses.

Cork Marts itself had closed its smallest mart, rationalised existing marts at Fermoy, Mitchelstown and Middleton on a 37-acre site outside Fermoy, relocated its Skibbereen mart from the town centre, developed a property auctioneering business under the CCM Property Services brand and invested in four National Car Test centres in Munster.

Having freed up its 30-acre site in Middleton, it shortly will lodge a planning application for a mixed town centre of retail, commercial and residential uses.