Dhaka cattle markets finally booming

After seeing a scarcity of customers, Dhaka's cattle markets have started gaining momentum after Juma prayers yesterday, as a huge number of buyers rushed to the markets.

Though the demand for small bulls, priced at Tk 50,000 to Tk 1 lakh, was high, demand of medium- and large-sized bulls, especially those that are being sold for Tk 2 lakh, was low.

Traders have started selling bulls at reduced prices from Thursday night, fearing losses.

Though the demand for small bulls, priced at Tk 50,000 to Tk 1 lakh, was high, demand of medium- and large-sized bulls, especially those that are being sold for Tk 2 lakh, was low.

"I brought 23 bulls priced between Tk 1.50 lakh and 7 lakh, but could only sell seven of them," said Ahmed Hossain, manager of Hossain Agro, who was frustrated since he had to let them go, incurring around Tk 8,000 loss for each bull on average.

Ahmed said he sold them for a loss due to lack of customers at Dholaikhal cattle market. It'll be impossible to sell them before Eid, and there is little demand for big bulls on the last day. Last year, he had to take back all his 31 big bulls as those remained unsold.

"I had to sell those at Tk 30,000 loss for each bull to meat traders. If we had sold them to customers at cattle markets, we would've faced a loss of over Tk 1 lakh for each bull," he said.

Mohammad Sentu, a trader of Jhenidah, said he sold all his three bulls by Friday morning, facing a Tk 30,000 loss, fearing further loss due to low number of customers.

Cattle feed price has doubled in the last nine months, which is the main cause behind the high cattle price, he said.

Shariful Islam, a trader of Karimganj of Kishoreganj, said he sold a bull for Tk 1.18 lakh yesterday at Gabtoli cattle market, out of his five bulls, for Tk 9,000 loss.

"I've started to sell my bulls even at a bit of a loss, as I'm still confused about the market trend," said Shariful.

Mohamamd Dalu Mia -- a cattle trader of Gabtoli, who brought two bulls, said, "Although I've spent around Tk 10 lakh in the last six months to raise these two, I'm getting very low offers."

He's demanding Tk 12 lakh for his Australian bull and Tk 8 lakh for his Shahi Wall.

MANY TRADERS WAIT FOR LAST DAY 

Although there's only one day left, many traders are still waiting to lower prices, just like last year.

Irfan Hossain, a resident of Kazipara, said his budget is Tk 60,000 to buy a bull, and he will go to the market after evening today.

"Last year, prices were lower on the last day, so we'll wait till then. If we don't get any bulls in our price range, we'll buy goats," he said.

Although the number of customers and sacrificial animals were low in Gabtoli cattle market till Thursday, a huge number of cattle carrying trucks were seen in the afternoon yesterday, which made cattle traders more worried about getting good prices.