Friedrich Sturm Market Report - 20.02.03
The US $ in EURO
1,2550
What happened this week: It was again one of these weeks where one is asking himself at the end, what it really was. The main impression left – it was difficult. Mainly the customer base in Asia started to dig the heels in, feeling to have a fair chance to drive the market further down. With the ups and down of the USD there were good and bad moments and at the end quick reactions and a lucky hand on the currency market decided once again about the good and the bad. So bids were enough around, but trading was disorderly. The orders given were withdrawn, altered, terms changed and it was quite difficult to lead the trading to an appropriate finish. All this is – as usual – sign of buyers uncertainty and not a solid base for business. However, adding at the end of the week what was captured in the net it ended in surprising and satisfying numbers. It was certainly one of the better weeks this year as far as number were concerned. However, one had to give further way on prices for dairy cows and ox/heifers if the target was to sell. A bit was compensated by the currency market, but still we see a net erosion of prices of a couple of