FOI documents reveal regulator’s concerns over finances at livestock marts
Across Ireland livestock marts remain a cornerstone of rural life. Photos: Brian Farrell
He had the equivalent of a very large unsanctioned and unsecured overdraft which had no upper monetary limit. That any livestock auctioneer would allow a dealer to finance a huge increase in turnover, by taking advantage of uncontrolled access to mart credit, is a recipe for potential disaster. That dealer can outbid any other potential buyer, using the auctioneer’s money. – Mr Justice Alexander Owens, 26.02.2025
Those were the words of a High Court judge, describing how one cattle dealer was allowed to run up tens of thousands of euro in unpaid debts in 2012, all while using mart credit to outbid rivals at ringside. When the marts finally pulled his access, the dealer’s business collapsed. But for the judge, the case revealed something bigger: a system where large sums of money can move with little oversight and where financial risk is quietly carried by the marts, and, by extension, the farmers who trade with them.
