The US $ in EURO
1,0790

What happened this week: The reduced market activity continued also this week – as well as the pattern of any activity seen. If there was any interest it came again from overseas and was -as now already a tradition for 2003 – only for dairy cows and low grades. European trading continued to be paralyzed and if there was any interest it was also here for dairy cows. The traditional European trading or renewal of contract for bulls hides was burdened by the large difference between sellers needs and buyers opinions. This is basically caused by the fact, that prior to the abattoir buying already positions had been created from the buyers which at the end – ‘thanks’ to the low kill – did not materialize. Now it is becoming difficult to make ends meet. However, one way or the other it will happen. Anyway monitoring the situation in Europe the situation is not really promising. Tanners – in most cases – use their inventories and continue to complain about as well insufficient orders as well as continuing massive

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