The US $ in EURO
1,2530

What happened this week: Business continued to be very moderate. The Asian customers are slowly returning from their holidays and start to monitor the market. With the softer note in the USA market they hope for further corrections to save on raw material prices. Basically nothing more happens like what we expected. The classical overreaction after the BSE case in the US is now correcting back to the normal level. As the kill has never been as much affected as many were afraid, the supply was always good enough to get through January and may be also February. However, the total volume of hide and skins business does not reflect the total volume of leather business and consequently the pipeline is emptying rapidly and it is only the question who can wait longer. At the end the total supply of hides will decide in the next weeks about the market trend. Since the kill in Europe will be low it is a question if the other market will be able to supply enough material to prevent the market from rising. As far as leather business is concerned at least a little silver lining was also noticed this 

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