India, May 25 -- With just days left for Bakra Eid, Deonar Abattoir, among Asia's largest slaughterhouses and livestock markets, is witnessing an unusual and worrying sight: empty lanes, anxious buyers and soaring prices.

Every year during the eight-day Bakra Eid rush, the Deonar market witnesses business estimated at nearly Rs.700 crore, with thousands of goats arriving from across western and northern India and premium animals fetching anywhere from Rs.20,000 to well above Rs.1 lakh. But this year, traders say the market has slowed dramatically due to a severe shortage of livestock and unprecedented price escalation.

On Sunday, large sections of the market wore a deserted look as buyers walked away after being quoted steep prices for ...