Cattle market crashes on Eid eve

RAWALPINDI: The cattle market crashed on the eve of Eidul Azha causing substantial losses to investors who had bought sacrificial animals to make profits on the auspicious occasion. Traders at Pirwadhai cattle market said they were off loading heads at even below break-even rates.  The overall prices of large sacrificial animals indicated a drop of up to Rs30,000-50,000. Vendors said they sold bulls for Rs85,000 which they were not willing to sell for Rs120,000 a few days ago. “The buyers had vanished and we had no other choice but ot sell,” a cattle traderv said. Even the traders were clueless of the reasons behind the crash. In this regard, the traders Haji Idrees, Ulfat Khan and Rashid Abbas told The Express Tribune that the market was working fine until 8 pm Sunday when suddenly the prices saw a massive downturn. However, people were happy, as they were able to purchase animals of their choice.  

Published in The Express Tribune, August 14^th, 2019.