The US $ in EURO
1,0990

What happened this week: Last weeks report could have been easily copied into this weeks. The situation was almost identical with the only exception, that the revenues from USD sales eroded again, with the USD falling from Easter Monday back to levels above 1,10 against the €. Concerns about the US economy, SARS and the lower oil price kept the pressure on the US currency. Sales were also this week again entirely concentrated on dairy cows and almost exclusively on exports to Asia. All negative reports about the Asian market have to deal with males as we see a strong demand for cows now for the third consecutive week. It doesn’t help very much, because prices remained almost unchanged vs. last week and so had the weaker USD the full effect. Also L/Cs are coming in regularly and shipments are absolutely on schedule. Sales in Europe were almost non existent. Many italian tanners took a very long Easter break, what reflects clearly the insufficient order situation they have to deal with. Furniture leather demandis said to have declined enormously in

Share this story: