The Turkish market has provided a lifeline for live exports of weanlings and store cattle and therefore a weakening in the value of lira is of real concern.
There were high hopes for live exporters to Turkey for the second half of 2018 with the market experiencing strong performance in the second half of 2017 and opening up to private buyers. \ Philip Doyle)
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Turkey is in the midst of a currency crisis with the lira suffering a 30% devaluation in recent days. This follows a significant devaluation earlier this year with the value of lira to euro shifting massively over the last year and reducing from a position of three to four lira to the euro in mid-2017 to seven to eight lira in recent days.
The lira experienced a slight recovery on Wednesday afternoon but remains volatile amid trade tensions between Turkey and the US. It spells bad news for Irish exporters and weanling producers ahead of the busy autumn sales period. Over 10,000 cattle have been exported live to Turkey in 2018 but there were hopes of a significant increase with 20,000 head exported in the second half of 2017 and the market opening up to private buyers in mid-2018.
Cattle boat for Libya
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Curzon Livestock will send a boat of heavy bulls to Libya in late September. Managing director James Horgan said the consignment would be divided between Friesian and continental bulls.
He has just returned from Turkey where he had discussions with Turkish livestock buyers about supplying weanlings.
“The Turkish lira is volatile at the moment and as a result they can’t make buying decisions. But when the currency settles back into a trading range, then they will be able to do so.
‘‘I’ll be very disappointed if we don’t do business there this autumn.”
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Title: Collapse in Turkish lira threatens exports
The Turkish market has provided a lifeline for live exports of weanlings and store cattle and therefore a weakening in the value of lira is of real concern.
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Turkey is in the midst of a currency crisis with the lira suffering a 30% devaluation in recent days. This follows a significant devaluation earlier this year with the value of lira to euro shifting massively over the last year and reducing from a position of three to four lira to the euro in mid-2017 to seven to eight lira in recent days.
The lira experienced a slight recovery on Wednesday afternoon but remains volatile amid trade tensions between Turkey and the US. It spells bad news for Irish exporters and weanling producers ahead of the busy autumn sales period. Over 10,000 cattle have been exported live to Turkey in 2018 but there were hopes of a significant increase with 20,000 head exported in the second half of 2017 and the market opening up to private buyers in mid-2018.
Cattle boat for Libya
Curzon Livestock will send a boat of heavy bulls to Libya in late September. Managing director James Horgan said the consignment would be divided between Friesian and continental bulls.
He has just returned from Turkey where he had discussions with Turkish livestock buyers about supplying weanlings.
“The Turkish lira is volatile at the moment and as a result they can’t make buying decisions. But when the currency settles back into a trading range, then they will be able to do so.
‘‘I’ll be very disappointed if we don’t do business there this autumn.”
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