The US $ in EURO
1,1270

What happened this week: The market is still in holiday mood – at least as the European situation is concerned. However, the some tanners have already returned from their holidays and some keep also contact during their  vacation. Those few took the initiative and for quite some time the first larger sales in Europe were concluded. This was well mixed between dairy cows and bulls and it was quite obvious that the buyers decided to wait for better times – lower prices – but to lock in what they have and so they were realizing, that in the long run the purchase levels are still quite attractive. The rest of the market activity was again deriving from the Far East. Interest was once and again concentrated on dairy cows and supported by the firm market in the USA. Price moved gradually up again and using a bit of timing on the currency market revenues were favourable. In addition to this we saw again flurry of attempts of export  traders to cover shorts, but to cover their contracts which seem to

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