What happened this week: Despite the holiday season activity is not completely slowing down. General economical news are more disappointing every day and concerns about consumers reactions in the western world are rising.  At present many officials are still trying to display optimism, but the private consumer is an unpredictable breed. Consequently depends more and more on the emerging markets where private consumption seems to be by far more stable as long as the financial stability of their economies is guaranteed. As far as the hide market is concerned, its stability is under the present conditions impressive. Prices don’t vary very much and if the influence

of the currency variations is neglected the movements are even more limited. Not really a momentary sign for a total and global decline in the demand for leather products. The previous was also confirmed by this weeks activity. While we had only spot interest for cheap materials out of Europe from the Mediterranean for delivery in September, larger sales were again booked to various overseas destinations for the full range of cows and heifers. The weaker € assisted a bit to bring ends together. It would even have been more if the bids were a bit closer to our ideas and so some interest remained unsatisfied. Prices were again on market levels, what doesn’t help us very much if buying prices next

week do not adjust finally to the real world. The kill: In our case the kill improved a bit with the holidays in the North being in the final lap. The Centre and West are just starting their vacation and so total numbers will still not change very much. Traditionally we expect the kill to increase after week 34. We have also not sensed any change in the slaughter weights so far. What do we expect? It seems, that now also our regular overseas buyers have covered their present appetite. So activity should be again less next week. Having said this, we assume now, that also many sellers are  reasonably well covered. Only low grades seem to be available. Consequently major prices variations can again not be expected.