Cattle prices decline rapidly on third day of Eidul Azha

LAHORE, July 1 (SABAH): The merchants have started selling the sacrificial animals at much lower rates at Lahore’s main cattle market on the third day, like other towns and cities, as they want to dispose of the cattle before they could return back to their hometowns.

Just like the past practice, the prices are coming down rapidly at cattle markets on third day of Eidul Azha because of the fewer buyers and the compulsion to get rid of their livestock amid a reduced bargaining power tilting towards the consumers.

But it isn’t limited to the cattle merchants only as the rate demanded by the butchers is also down because of the same market force, the bargaining power.

According to media reports, the record-high inflation was adversely affecting both the sellers and the buyers this year. And in case, they fail to find buyers then they would leave the market empty handed and have to sell the same to butchers – a scenario which is less lucrative but still result in profit.