The US $ in EURO
1,1810

What happened this week: The situation is developing further into a October classic. The seasonal increase in the slaughter meets a tanning business which is still in the process to find a sufficient order base for the coming season. With the frightening situation in the tanning industry  in Italy and in part also in the other Mediterranean countries not enough short term demand in Europe is generated to easily absorb the present slaughter. Holidays in Asia, scattered local holidays in Europe and  leather fairs, such as for furniture and shoes in Germany and the upcoming Lineapelle in Italy keep tanners interest at present more on sales and their market perspectives rather than action in raw material procurement. This puts suppliers from many countries, which run a ‘0’ stock policy or dispose of  insufficient warehousing facilities  under massive pressure to stimulate their customers desire to buy the hides they want/need to sell. This applies mainly to UK/Ireland and creates this classical October scenario with a massive and short term pressure on hide prices.

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