The US $ in EURO
1,0270

What happened this week: Our last weeks idea, that this week would be quiet and relaxing proved to be entirely wrong. Sales were active and busy throughout the week and activity continued until the very last moment on Friday. Apart from the regular and program businesses which needed to be still concluded this week, we had plenty of inquiry and sales predominantly for low grade materials. Also interest and inquiry for dairy cows from Asia was seen, but due to the weak USD and the general market uncertainty we decided to pass and to postpone most of the interest into January. Not really a great risk from all what one knows today as the market does not seem to be very vulnerable for the time being. It seems, that it does not require too much wisdom to expect the reopening of the market early 2003 on similar levels than today. About the leather business you get plenty of different opinions. While many consider the demand for leather shoes worldwide

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