The trade was excited by a slow kill over the summer, which lasted into September, and an emotional interpretation of the trips to Asia at the beginning of September. So both main market segments, the cows driven by the international market and the bulls by the domestic one, were quickly heated up and the results are fairly well known. However, so far, market realities have not supported any of the enthusiastic views. We have not seen a ‘buying frenzy’ since then nor have other international markets seen a price explosion to propel European prices to any expected levels. At the end of the day, speculation and market share strategies remain the only explanations for levels reached at the abattoirs so far and, understandably, butchers see no reason why this should come to an end yet. Niche situations like, for example, a strong performance of specific vegetable leathers and the excellent situation in the luxury market, may explain temporary and isolated movements, but these are not sufficient to support the market as a whole.

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