Osterhorn
Thursday, 24.01.2003

Market Report

The US $ in EURO
1,0770

What happened this week: The market divided into two sections over the week. While demand for dairy cows remained strong from the Far East and another rise in selling prices by one USD or so compensated for the further decline of the USD, was the demand in Europe very slow and worries are mounting if and when the European tanners will return to the market. While the production of cows is reasonably well absorbed by the overseas export sales and the absence of the traditional European customers (Italy) is not yet particularly worrying, one has to start to wonder a bit about the market of males. Not so much as the Northern European regular buyers are concerned, but more from the customer base in the Mediterranean where

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