The district council received a number of bids for the site earlier this year when Asda revised its original offer to buy the site for a new store and petrol station.

But while the bid details remain unknown, and the future of the site stays unclear, the council is working with architects to provide an alternative market facility.

It is looking at the Fairfield Industrial Estate – in case councillors vote in favour of selling up.

Farmers who have traded at Louth livestock market for years have mixed views on whether the site should be sold and the market moved.

Clive Goulsbra, a farmer and livestock breeder from Brickyard Farm in Authorpe, won the Champion Beast trophy at the recent Fat Stock show.

He said: "I like to think the plans for a new cattle market will work but it is going to be a lot of money.

"It will be a shame if the current market closes but if that is what they have to do to keep it going, then so be it."

Robert Ronsley, a semi-retired farmer from Theddlethorpe, used to sell and buy every week at Louth Cattle Market.

He said: "The decision over the market has been going on for so long now. I would be sorry to see it close, it is a social outlet for farmers."

Harry Dodd from Stickney said: "The cattle market is better staying here. It has got a good atmosphere. Families used to come and the wives would walk into town to go shopping.

"It will be a shame if a supermarket or whatever else is planned is developed here."

Lincoln Red farmer Michael Read from Hemingby has shown cattle at Louth for 50 years.

He said: "We have got to keep these markets going.

"They help farmers by showing what trade is like at auction and the animals make what they are worth.

"I have been coming here since the early 60s when it used to be really busy – it was such a big market."

Michael Pickwell, from Moulton Seas End near Spalding, has attended at Louth Cattle Market ever since being a child.

He said: "I think people have said they are going to close it for the last two or three years which has led to farmers going elsewhere like Selby and Newark.

"I don't think it would make any difference to Louth if it did move.

"It would be nice to move it to the industrial estate but what is the cost going to be?

"There used to be hundreds and hundreds of cattle, sheep and goats. It was a big market and farmers would come from all over the country it had such a really good reputation.

"Now a lot of the farms have gone and supermarkets have taken over."

Lincolnshire's agricultural chaplain Canon Alan Robinson wants the council to develop the current site as a centre for training.

He said: "It could be a place to go to develop skills such as butchery.

"This current site is important but it does need the commitment from the council and the farming  community to ensure there is enough livestock coming through to make it viable. I just want the council to think long term and how they can engage with the farming community.

"If the cattle market moves further away, that is not sustainable."

Market supporter Elaine Drewery from Authorpe said: "Louth would not be the same if the cattle market was not here.

"When I came here to live the cattle market was like a sight-seeing thing.

"I can't imagine Louth without the cattle market being here. It would be a shame."

The council took a decision in July 2014 that if the existing livestock market site were to be redeveloped, a replacement market should be developed before the existing site ceased to operate.

But this would only happen if it were to be agreed by council to sell the existing site.