The $3.4 million project for Beefcorp Farms Pty Ltd was officially approved by Murrumbidgee Council last week.
The company expects the project will generate significant employment for the region, both in construction and ongoing operation once completed.
Beefcorp also anticipates supporting the local economy and agricultural industry to meet feeding requirements.
Mayor Ruth McRae said the feedlot is an "exciting investment", which she says was "unanimously supported" by councillors.
“Beefcorp is a very impressive company,” Cr McRae said.
“They are based in Victoria and market their beef in Australia and to more than 14 countries worldwide.”
Beefcorp managing director Nick Sher said the company had been searching for the right property to construct their feedlot for a number of years.
Mr Sher said the property at Logie Brae is in a wonderful location with a good water supply and ability to produce fodder for the cattle.
“The neighbours and council have been very supportive of the feedlot development, and we will be able to source most of the feed requirements in the local district.
“When up and running we will need to employ around 10 staff plus contractors, so it will have a positive impact on the economy in the region.”
The feedlot, to be located on Rolfe Road, Logie Brae, will have a capacity of 7,680 cattle.
It will include 91 feeding pens each with a capacity of 80 head of cattle, and 10 feeding pens each with a capacity of 40 head of cattle.
The feedlot will be built to Class 1 standard, which offers the highest level of animal husbandry and welfare.
Once completed accreditation will be sought from the National Feedlot Accreditation Scheme.
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