Livestock production and trade constitute an important component of livelihoods and local economic activity in Kenya's arid and semi-arid lands. In Turkana West Sub-County, which hosts refugees from approximately 24 countries, livestock markets operate within a complex and dynamic system shaped by pastoral production, cross-border mobility, refugee settlement, urbanisation, local consumption, and linkages to external markets. This article examines the organisation and performance of livestock markets in Turkana West, with particular attention to the influence of the growing refugee population and external livestock trade on livestock and livestock-product consumption. The study used qualitative and participatory approaches involving livestock producers, traders, livestock marketing associations, slaughterhouse representatives and other market actors. Remote open-ended interviews, focus group discussions, participatory rural appraisal, market observations and analysis of market records were used across key livestock markets, including Lokore, Kakuma, Letea, Kalobeyei, Lokichoggio and Nanam. Market records were used to examine livestock stocks, sales, slaughter and revenues. The findings show that livestock markets in Turkana West have evolved from predominantly informal and traditional trading arrangements towards a more structured network of primary and secondary markets. Kakuma functions as the principal secondary market and receives livestock from more than ten primary markets. The presence of refugees has expanded local demand, particularly through butcheries and livestock-product businesses, while host-community traders remain strongly involved in the supply of live animals. At the same time, substantial market inefficiencies remain. These include high levels of unsold livestock, inactive traders' working capital, weak market coordination, inadequate slaughter infrastructure, limited utilisation of livestock by-products, weak market information systems, inadequate access to finance and insurance, and constraints associated with disease, drought, insecurity and cross-border movement. The evidence suggests that market resilience depends not only on increasing livestock production but also on improving coordination between production catchments, primary markets, secondary markets, traders, consumers and external markets. Strengthening producer and trader organisations, improving market infrastructure, developing reliable market information, expanding value addition, facilitating formalised trade and strengthening host-community and refugee participation could improve the efficiency and sustainability of livestock markets in Turkana West.