PARNELL FAMILY TAKES OWNERSHIP OF CATTLEMEN’S LIVESTOCK MARKET

Following 16 successful years as the manager at Cattlemen’s Livestock Market (CLM) in Galt, Col. Jake Parnell and his wife Molly Parnell have officially taken ownership of the auction yard, which as been owned by the Loretz family since 1968.

With the Parnell family having its own deep roots in the livestock marketing business, Jake and Molly Parnell say they look forward to keeping CLM the industry staple it has been for the Central Valley for the last five decades.

As one of the largest cattle yards in the state and the Western U.S., and after 55 years of operating the company, Frank Loretz made the decision to sell the business to Parnell and his wife, Molly.

Parnell said he does not anticipate the market will change much in its day-to-day business operations but he says he is looking forward to the opportunity to help producers improve their cow herds. Having worked as an auctioneer for purebred cattle production sales, in addition to his role at CLM, Parnell said he has the experience to help producers make their herd more profitable and he looks forward to lending that experience to customers.

CLM sells 100,000 head annually through its Wednesday afternoon sales and also serves as a representative for Western Video Market, a role that will continue to be a priority focus for Parnell and the CLM team.

Parnell says he is especially enthused about the opportunity for his family to grow up in the same kind of business he did. With a father and grandfather as reputable auctioneers, Jake and Molly know the agriculture way of life for kids is second to none. The couple have three children — 8-year-old Jack and 7-year-old twins Ben and Parker — who the couple say they look forward to growing their involvement in the sale barn.

Molly Parnell is a success story in her own right. With a keen business acumen, Parnell is the president of Golden State Strategy Group, a legislative fundraising business based in Sacramento. Though Molly was not raised in the livestock business, her conservative roots and legislative background helped her embrace the livestock whole-heartedly.

Molly says she looks forward to spending sale day at the auction yard each week and lending her business experience to the family business while also continuing to foster relationships with the auction market’s loyal clientele.