What happened this week: Well, the market really fell totally into the holiday mood we had expected for the week although activity—in particular from Asia—kept people more busy than was actually expected. Unfortunately the USD’s strength was only short-lived and the gains did not exceed the 1.36 mark so there was, once again, only a very small window of time to achieve a favourable currency position for the week. Consequently, there was little chance to convert the market activity towards better revenues. Anyway, it is better not to complain when product is still moving and sales can be considered as sufficient for the time of the year. Looking at the situation in detail, one also has to consider that the market activity was not spread evenly across the board, but mainly focused on cows and low grades.

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