Livestock Sales Double During Eid al-Adha in Saudi Arabia

Sales of sheep has doubled in Saudi Arabia (Asharq Al-Awsat)
Sales of sheep has doubled in Saudi Arabia (Asharq Al-Awsat)
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Livestock Sales Double During Eid al-Adha in Saudi Arabia

Sales of sheep has doubled in Saudi Arabia (Asharq Al-Awsat)
Sales of sheep has doubled in Saudi Arabia (Asharq Al-Awsat)

Sales at Saudi livestock markets doubled during Eid al-Adha, as prices rose 20 percent due to the increase in animal feed and import costs, workers told Asharq Al-Awsat.

Saudi Arabia consumes about 3.5 million sheep annually.

Abdul Rahman al-Farij, owner of al-Najd Livestock for Agriculture Development, told Asharq Al-Awsat that livestock prices saw a 15 to 20 percent increase this year, noting that prices vary according to demand.

Livestock dealer Ibrahim al-Aliwa said that sacrifice rituals are increasing every year, adding that demand increases on certain types of sheep, like Noaimi and Najdi, with an average price of $53 per animal.

For his part, Mutaib al-Subaie reported that Sudan and Jordan are Saudi Arabia’s top livestock importers, noting that the demand is remarkable for al-Noaimi, of an average price of $386.

Asharq Al-Awsat toured several markets, and top sellers and marketers in Riyadh implemented strict precautionary and preventive measures against the COVID-19 disease.

Saudi markets witnessed imports of various sheep, notably from Romania, Spain, and Georgia, with prices varying between $240 and $320.

Small size sacrifices were the least in demand, with average prices ranging between $140 and $160.

This year, local Saudi markets witnessed the sale of other types of livestock, which are permissible according to the Sharia, with an average price for imported calves reaching $933.

Muflih al-Tabki, the auctioneer in the livestock market in Madina, reported high demand for camel purchases for the sacrifice ritual.

Livestock investor Salim al-Zughaibi told the Saudi Press Agency (SPA) that the increase in livestock prices is estimated at 20 percent.



US Close to Several Trade Deals, Announcements to be Made in Next Days, Bessent Says

US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., US, June 27, 2025. REUTERS/Elizabeth Frantz/File Photo
US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., US, June 27, 2025. REUTERS/Elizabeth Frantz/File Photo
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US Close to Several Trade Deals, Announcements to be Made in Next Days, Bessent Says

US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., US, June 27, 2025. REUTERS/Elizabeth Frantz/File Photo
US Treasury Secretary Scott Bessent speaks to reporters at the US Capitol as Republican lawmakers struggle to pass US President Donald Trump’s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., US, June 27, 2025. REUTERS/Elizabeth Frantz/File Photo

The United States is close to clinching several trade deals ahead of a July 9 deadline when higher tariffs kick in, US Treasury Secretary Scott Bessent said on Sunday, predicting several big announcements in coming days.

Bessent told CNN's "State of the Union" the Trump administration would also send out letters to 100 smaller countries with whom the US doesn't have much trade, notifying them that they would face higher tariff rates first set on April 2 and then suspended until July 9.

"President Trump's going to be sending letters to some of our trading partners saying that if you don't move things along, then on August 1 you will boomerang back to your April 2 tariff level. So I think we're going to see a lot of deals very quickly," Bessent said.

Bessent denied that August 1 was a new deadline for negotiations. "We are saying this is when it's happening. If you want to speed things up, have at it. If you want to go back to the old rate, that's your choice," he told CNN, Reuters reported.

The US Treasury chief said the Trump administration was focused on 18 important trading partners that account for 95% of the US trade deficit. But he said there had been "a lot of foot-dragging" among countries in getting closure on a trade deal.

He declined to name countries that were close to a trade agreement, adding, "because I don't want to let them off the hook."

Trump has repeatedly said India is close to signing a deal and expressed hope that an agreement could be reached with the European Union, while casting doubt on a deal with Japan.

Since taking office, the US president has set off a global trade war that has upended financial markets and sent policymakers scrambling to guard their economies, including through deals with the US and other countries.

Trump on April 2 announced a 10% base tariff rate and additional amounts for most countries, some ranging as high as 50%. The news roiled financial markets, prompting Trump to suspend all but the 10% base rate for 90 days to allow more time for negotiations to secure deals, but the process has proven more challenging than expected.

That period ends on July 9, although Trump early on Friday said the tariffs could be even higher - ranging up to 70% - with most set to go into effect August 1.

Bessent, asked about the 70% rate, referred back to the April 2 list, but that did not include such high rates.