The financial performance of marts in 2022 has been boosted by higher sale prices for cattle, generating greater returns from commission rates, and higher throughput in their rings.

MartsBids analysis shows the average price of bullocks weighing 600kg increased by €96 per head (€1,584) while similar weight heifers sold for an average of €90 more (€1,530) in 2022. This was on top of a sharp jump in prices of approximately €150 per head from 2020 to 2021.

Cattle prices were most improved for heavier cattle and cows. Weanlings still recorded an improvement, with the average 350kg weanling bull selling for €927.50, up €42 on the year previous, while the average 350kg heifer weanling increased by €28 per head to €906.50.

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Cattle throughput in mart sales is also on target to finish the year in the region of 70,000 head higher.

The latest data available from the Department of Agriculture for the first 10 months of the year shows 1,569,805 cattle were traded in marts, an increase of 75,167 head, or 5%.

The number of animals presented in marts but not sold fell by 14,074 head to 85,075.

In contrast, the number of farm-to-farm movements recorded by the Department for the first 10 months of 2022 fell by 126,057 head, or 9.4%, to 1,212,457.

Several mart managers reported some farmers who previously traded farm-to-farm returning to mart sales for security of payment, given the increased sums involved.

Driver

A big driver of increased throughput in the last two years has been a more vibrant trade for slaughter-fit stock, with cows benefiting most. Managers said the introduction of online sales platforms have been integral to this.

Managers also state that the improved financial performance has been vital to cover the sharp increases in operating costs in recent years including insurance costs and council rates and more recently energy/maintenance costs and staffing costs.

This, they say, is putting marts in a better position to be able to invest in the business.