The US $ in EURO
1,0670

What happened this week: The market continued to be stable and sales continued to normalize and pick up. As in many weeks before dairy cows and low grades dominated the scene with good demand seen again from the Far East. The rapidly falling USD was compensated by higher selling prices until a level of 1.05-1.06. Since it passed also this level the relative price increases were not anymore obtainable, so that Fridays export calculation began to become worse than a week ago although asking levels went up by a USD 1,00-1,50 over the week. Bulls sold reasonably well to regular clients at steady money. A bit worrying in this segment are the increasing offers seen from Eastern and/or South Easter Europe. One has to believe, that many sellers have stocked hides prior to Xmas in the expectation of higher prices in January

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