What happened this week: The excitement of the Bologna week calmed significantly down. The week was relatively quiet as far as the volume of communication was concerned. Most people were obviously digesting and sorting out the results of the Bologna Fair and some overseas visitors were touring their suppliers and contacts in Europe. So many were busy with other things rather than the buying and selling of hides. Those tanners who had not finalized all of their regular purchasing where lurking for the bargains on the market which became less available after the beginning of the last week. Even the trendsetters in the UK and Ireland lost a bit of their courage to be the frontrunners of cheaper prices  and most prices settled also after realizing, that they have probably  become momentary one of the most inexpensive hides available in the world. So, after a relatively quiet week became Friday afternoon the most active day of the week and adding up at the end the number of sold hides for

the week became   a positive surprise. Imperceptibly the number had grown into much more than felt or expected. Sales were exclusively made to European and overseas side leather customers. Even China was on the list again for ox/heifers and this was anyway the hide type with the strongest interest from all markets. With the lack of lighter hides available at this time of the year, many were not able to understand, that the medium weights are outsold and not all orders could have been fulfilled. It is the classic story of a market declining, that tanners believe that hides are available without any limit. Bulls traded in their normal volumes and the remaining weak segment of the market remain dairy cows for the garment production as well as kips of medium and lower quality. Both items still suffer from the reduced demand for the leathers one can produce form these raw materials. Consequently were selling prices on full asking levels for ox/heifers, on or marginally below asking levels for bulls and under

under pressure for light weight dairy cows where unaccepted bids where 5-7 % below asking levels. The final prices which had to be paid at the abattoirs where a disappointment being only marginally lower what was not enough to readjust hides prices to the levels where most of the trade expected them to be by now. The kill: To our surprise suddenly falling rapidly on bulls by mid week and it has now to be seen if this is just one of the temporary interruptions or already the end of a short lived rise. Females still come in their normal seasonal extension. What do we expect? Even when sales have been decent the last two weeks and more pressure is lifted we don’t expect any market turn around in the short term. The market is just settling and most European tanners seem to be fairly  covered until the end of the year and take it easy. The market will, however get most likely more exciting again in December when Asian tanners have to take their decisions for arrivals after their holidays and also European tanners have to make their mind up for the first quarter.