The fact that livestock producers are price-takers - as opposed to price-setters - remains as true today as when the phrase was first coined.
This is unlikely to change in the near future, despite some attempts to implement forward-contracting and other means of circumventing market fluctuations.
Only varying degrees of success have been achieved and the relatively-few numbers involved have seen very little impact on the general market. The only option producers are left with is to optimise the returns on the livestock they market, by providing a product that will draw a premium from buyers.
Dublin cattle sales attract local and interstate meat buyers and an array of feeder and restocker buyers. Unfortunately, the cattle yarded on any given Monday can fluctuate dramatically in quality. Some buyers are disappointed for choice and seek other venues to source supplies. Once lost, these buyers are often reluctant to return and - naturally - competition suffers. * Extract from a full report in Stock Journal, August 8 issue.