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German Perspective—09.12.08

09/12/2008

What happened this week: It has been another week of tremendous turmoil. Sellers have been panicking about finding customers with buyers thinking there is a never-ending decline in the hides market. Some may even think they will eventually get paid to take and tan hides. It is clear that things are in complete disorder and there is no logic in the game anymore. There is no balance between price and value of hides and most are dumping their stocks in an attempt to raise cash and prevent further losses.

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