The US $ in EURO
1,1655

What happened this week: The situation developed more or less exactly as anticipated. At the beginning of the week the market in Europe entered into almost a panic situation. The USD fell to below € 1,17, the slaughter in Europe rises seasonally and the customer base is in this part of the world limited to the few tanners operating in car upholstery and some parts of the shoe upper and luxury leathergoods business. All this is neither new nor it would be a big problem if the abattoir price levels would or will adjust enough to settle the market back to levels where the tanners margins are protected. We still believe, that on a global scale leather demand in total is still good enough to absorb the hides produced. This excludes individual problems of particular hide types. So are hides suitable for the medium and higher end of furniture and shoe upper  qualities certainly very difficult to sell at the moment, because this consumer segment suffers most from the mentality of producers and consumers, that everything has to be

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