The US $ in EURO
1,1550

What happened this week: In many ways we were very exact in our predictions. Trade slowed down this week with the only exception of the regular clients which were taking their normal volumes. Fortunately enough we enjoy in the difficult times the steady demand from the successful and constant clientele we deal with on a long term basis. To agree on prices was here and there a bit difficult with the massive price pressure deriving from the weak USD until Thursday and the weaker overseas markets. However, at the end sales were concluded, prices were not sufficient, but in view of the situation with most customers it would not be fair to complain  with the arguments they have in hand. Margins are massively eroding as once again abattoir prices for May were falling only fractionally and the decline in the avg. revenues left with us. Due to the low kill negotiations with butchers were very difficult again, took longer than ever and at the end the trade had to give in to get something finalized eventually. Not very clever in view of the problems. The second quarter has never been much fun and so is this one. For the first time in about two months we had almost no interest from

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