Friedrich Sturm market report 05.06.03
The US $ in EURO
1,1730
What happened this week: As expected things were reasonably quiet – at least until Thursday. European buyers were mostly on the sidelines as many factors kept them from the market. Leather business in general is in its seasonal decline. Prices are in decent, what always let people believe they have to wait for the cheaper offer and many tanners have also already covered their needs until the summer holidays. In addition we are still in the process of abattoir buying and consequently everyone continues to wait for the levels which will be stipulated for the coming month. So, the market divided into those with courage and the others without. As quiet as it may have been, we believe, that at the end much more business was concluded than it looked like. At least in dairy cows and ox/heifers. Tanners with a bit more long term sight were teasing sellers where they got the impression, they might be a decent victim for bargain hunting and so bids of 10 % ore more below the market level were frequently heard.
