Excerpts from the report Introduction: During the last 2 decades the auction has become increasingly important as a marketing agency for livestock. Livestock auctions in the United States have increased in number about threefold since 1935. Along with this growth in numbers, there has been a significant expansion in the volume of livestock marketed at auctions. The purpose of this study was to examine the role of the auction in the marketing of livestock in the United States and to provide information which may serve as a benchmark for future analyses of the economic importance and effectiveness of livestock auctions. Specifically the objectives were as follows: (1) To trace the development of livestock auction markets in the United States, (2) to describe the several characteristics of auctions in terms of ownership, facilities, and methods of operation, (3) to examine the present status of auctions with respect to volume handled, area served by them, and the relative importance of the different types of patrons, and (4) to determine the charges assessed for the services provided at auctions.