The US $ in EURO
1,1830

What happened this week: Chaotic is certainly the best description of the situation during this week. As often the hide market requires outside influences to sort itself out. And this week we had plenty of it. The bankruptcy of one of our Dutch colleges came as a bang and the first BSE case in Canada was not less important. This all combined with a further rapid decline in the US$ value added to an explosive mixture. The European market and in particular Germany and Holland displayed a situation where the word panic would not be exaggerated. Further bad news from the Italian furniture tanners and the influence of the weak dollar led to a loss of nerves and so all kinds of prices and here mainly low ones were thrown around the market. We fail to notice any trade of hides of any substance in Europe with sellers trying to move product not finding hardly anyone who was interested to buy. Mainly heavy cow hides which in the past months have been mostly sold to Italy did not find

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