So, we have the usual market conditions where prices have been too high and tanners feel there could be hide accumulations which could force buyers to consider lower prices in order to move their production. In the end, we are seeing completely normal market development. With the fundamentally strong global economy, the market has been riding a wave of orders and optimism for a long time and overlooked the changes in the fundamentals. At the end of the season the market always tends to overshoot with an empty pipeline and a certain supply scare on the buyers’ side. However, the markets remain cyclical and the economics of profitability are also playing a part.

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