Cattle market sees sharp decline in sacrificial animal sales

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LAHORE: Contrary to the strong buying and sale trends of previous years, this year’s Eidol Azha, the livestock market, suffered an unusual decline in both prices and traded in animal volume, which resulted in a significant loss of fidelity farmers and traders.

According to hidden and skin processors, about 0.6 million less animals were sacrificed during the Eid last year. However, the feed loot farmers believe that the decline may be up to one million. Estimates from the hidden and skins industry suggest that a total of 6.977 million animals were sacrificed this year, including three million cows, 3.4 million goats, 0.4 million sheep, and 0.1 million camels.

A significant downward trend in sacrificial animals prices was seen only during closed weather. As a result, the total price of the sacrificial animals is estimated at less than Rs 500 billion. The average price of a cow fell by Rs 25,000 to about Rs 150,000, while the price of goats increased from Rs 10,000 to Rs 50,000. Camel prices also increased. This year, the total estimate of the skins is estimated at Rs 6.35 billion.

It seems that many factors play an important role in misery in the traditional cattle market. Economic slowdown is being regarded as a major reason. “When the wider economy is under pressure and people face high life costs, their disposable income for seasonal purchases like sacrificial animals decreases,” said a progressive Fidelity farmer who set up a temporary stall in the Mandi on the outskirts of Lahore. He added that inflation has reduced the power of purchase, which made it difficult for many families to afford the animal – especially when prices remain high.

Fed loot farmers also pointed to input costs – such as animal feed, labor and transportation – as a major concern. With lower sales prices and higher prices, profit margins shrink and, in many cases, turn into gross losses.

Some observers believe that high amounts of animals in some markets can help with this error. This is due to more seasonal profits that more and more farmers can enter the Fidelity business.

Changing consumers’ behavior can also play a role. The growing number of buyers is choosing small animals, participating in collective sacrifices, or donating charities that perform sacrifices on their behalf – thus reduce individual purchases. This situation has caused uncertainty for many farmers and traders who invest a lot in raising and maintaining livestock throughout the year. The failure to sell on expected prices or volume means direct income loss, which is especially important in view of the religious and cultural importance of Eid -ul -Azha.

Observers noted that this year’s market dynamics were given a unique confluence of factors-including cross-border barriers, changing donor priorities and uncertainty of speculation.

The temporary closure of borders with Afghanistan and Iran had a significant impact. The high quality cattle of these neighbors were maintained, and when the borders reopened, the high fees discouraged traders from completing the transaction. As a result, many animals were brought back to local markets, which increased logistics and more depressed prices. Meanwhile, the Middle East conflict has influenced the priorities for international donors and humanitarian organizations. Changing attention and financial support means less donations for sacrificial animals in Pakistan, which increases local surplus.

Just a few days before Eid, the emotions of the market remained uncertain, when traders realized that the supply of animals had exceeded demand, which had reduced prices rapidly. While this benefited buyers, traders and farmers who were delayed in sale, they suffered significant damage.

It has been observed that buyers mainly searched the cattle, which costs between Rs 175,000 and Rs 250,000, which costs more than Rs 350,000. This resulted in the loss of people who invested in premium livestock, who failed to earn the profits shown in recent years.