Phase one of the refurbishment is nearly complete and the Smithfield Livestock Market hosted its third sale for store cattle in the new section on Wednesday.
The development has included building a brand new store cattle sale ring and pens undercover, installing modern handling facilities for beef cull cow sections, covering the lamb section, building a large cleaning and disinfectant facility, a new calf shed, car park, and converting the old office into a modern canteen.
Mervyn Parry of Oswestry has been using the livestock market in the town for 60 years and said he was impressed with the new facilities.
He said: "The sheep will be covered over which will be a big improvement, I think it will work grand for them. People will use it, it is right in the middle of the farming community, it always has been used and always will be.
"It was needed, it is one of the finest sheep markets and I hope we can keep it up. I can remember the old market well. That was right in the middle of the town, I can remember them selling sheep on Festival Square at 5pm at night."
Ieaun Evans, originally from Meifod in Mid Wales, who farms sheep, said the new facilities will be good news for farmers.
He said: "The biggest help here is covering the sheep section. It needed to change for the amount of stock that was coming through here. "
John Brereton, partner at Oswestry Livestock Auctions, said: "We are very pleased at how it is working out. We are currently putting the shed over the lamb yard and hope to have that finished in the next three weeks.
"We are delighted we have been able to do this refurbishment with the support of Oswestry Town Council. They have always been very supportive of the livestock market here and have been excellent landlords.
"It is a quiet time of year now, farmers are busy lambing, but we hope that all the work is completed by the summer and we will have a modern and efficient livestock market for farmers and purchasers going forward."
He added: "It is a very compact design so it keeps its friendly atmosphere. We are very lucky, we have a lot of support from our farmers and purchasers all over the country and we hope that these improved facilities will cater for their needs and secure the future of the market in Oswestry for many years to come."