Three livestock marts with client credit accounts showing deficits at the conclusion of 2024 managed to get their books back into the green last year.
The Property Services Regulatory Authority (PSRA) – the body that licenses marts and auctioneering – stated that these three unnamed marts’ deficits came to light after it carried out compliance audits on licensed marts last year.
The PRSA's checks requested that all marts submit documentation relating to their client bank accounts so the PSRA could evaluate compliance with the relevant legislation.
“The authority engaged with each of these marts and successfully assisted them in addressing and eliminating the deficit on their client bank accounts,” the report noted.
The status of livestock marts’ client accounts has come under renewed PSRA scrutiny over recent years, culminating in a number of High Court proceedings taken against individual marts.
Credit strain
Marts' credit lines to customers have also been under increased strain since 2025's lift in cattle prices, seeing some mart managers signal that they would be cracking down on buyers who are slow to settle up their bills.
A mart forum established by the PRSA in December 2024 sought discussions with the mart sector on the challenges they face, while warning them of the regulatory rules they must abide by.
Four meetings of this forum took place in 2025 and further meetings are to take place over the course of 2026.
The Irish Farmers Association, the Irish Creamery Milk Suppliers Association, mart and mart manager representative bodies, as well as the Department of Agriculture and accountants, sit on this forum.
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