Farmers and stock agents say they are shocked by the decision to close Warrnambool's saleyards but some say the fight to keep it open is not over yet.
About 150 people attended the council meeting where councillors voted 4-3 to close the yards by June 30 next year.
Cr Ben Blain moved the motion to close the facility and was seconded by Cr Vicki Jellie.
Crs Blain, Jellie, Max Taylor and mayor Debbie Arnott voted for closing the yards, while Richard Ziegeler, Otha Akoch and Angie Paspaliaris voted against.
Council took the step of bringing in security guards for the fiery meeting where members of the crowd were quite vocal, prompting numerous calls from mayor Debbie Arnott to call for quiet.
The $5.6 million that had been set aside to the potential upgrade will go back into council's consolidated revenue but part of it would be used on a study into the future use of the site.
But the council will still spend money to erect a perimeter fence until it shuts.
Stock agent Anthony Mahony said after the meeting that he was "shattered" and "quite shocked" by the decision.
"We're very disappointed," he said.
"Warrnambool has lost a very iconic part of the city."
He said farmers and agents had worked "very hard" to keep it established and running as smooth as they could under the circumstances.
"It's just a massive pity for the people of Warrnambool that they didn't see fit to do the upgrades and make it even better than the great facility it has been for us," he said.
Moyne Shire councillor Jim Doukas said the decision was very disappointing and he was surprised by the outcome of the vote.
"I thought they would have come to their senses," he said.
"It's not over yet.
"The fight's not over.
"Surely there's some avenue of attack from here.
"You just don't give up."
During Monday's meeting, a number of councillors laid blame for the decision with previous councils.
Former councillor Brian Kelson was one of four councillors to vote 12 years ago to save the yards from closure.
"The only reason at that particular point in time was to allow the people to have a succession plan," he said.
"It gave them time to alter their business or reposition there business how it should be if the council yards were to move.
"Well 12 years down the track and I'm afraid not a whole lot appears to have been done and the saleyards are in such a poor state of deterioration."
He said the cost of the works was now too great.
Mr Kelson said it was a tough decision.
"I congratulated all the councillors up there, including the mayor, because I have been in that position before and I know how hard it is," he said.
"Whether you were for or against, I congratulated every one of them."