What happened this week: There was little excitement this week. Sales were isolated and the weak US dollar made calculations even more complicated.  Despite the fact that the price of grades has increased in the US over the last two weeks, European hides no longer have any price advantage. Euro revenues haven’t changed very much since the beginning of the year and - in our view - many made the mistake to convert the stronger demand for European hides in the first quarter into the traditional assumption that prices have to go up. Well, they don’t and they haven’t come down anymore, resulting in hide processors having to pay increased prices in April, in particular for cows at the abattoir.

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