Cattle Prices Plunge 50% on Eid's Third Day, Yet Markets Remain Quiet

Lahore, June 9 — In spite of a significant 50% reduction in livestock prices throughout Lahore and various other urban areas on the third day of Eidul Azha, the cattle markets continued to be largely deserted. Vendors are finding it difficult to attract customers despite offering substantial discounts, leading many to feel disheartened and prepared to close shop.

Cattle dealers mentioned that numerous buyers had completed their transactions beforehand, resulting in minimal enthusiasm for the leftover livestock. One vendor from Larkana reported bringing an award-winning bull valued at Rs. 15 million but was unable to sell it for more than half its price. Additionally, they pointed out unfavorable market circumstances such as inadequate access to fresh water, which compelled sellers to purchase large drums of water for Rs. 1,500 each.

A fellow trader mentioned spending Rs. 400,000 solely on transportation costs to move livestock to Lahore. Yet, prospective purchasers from the area are willing to pay just Rs. 200,000 for creatures initially valued at Rs. 700,000. “What option do we have but to endure these significant financial setbacks?” he questioned, conveying his profound dissatisfaction with both the weak market interest and unjust compensation offers.

Despite considerable discounts, potential purchasers continue demanding additional decreases in prices, which makes it difficult for vendors to cover their fundamental expenses. Several dealers mentioned that they prefer returning the livestock to suppliers rather than selling them at rock-bottom rates.

As a result, numerous livestock farmers are now considering returning to their home villages if the market conditions do not improve shortly. Despite hoping for late purchasers to emerge, the sparse attendance at the markets has left them disheartened and worried about potential financial losses.

In general, the significant drop in prices did not manage to draw in more customers, resulting in a sluggish sales day that was far quieter and more discouraging than expected for those trading livestock.