American Mink Pelt Prices Test 2008 Highs
FUR COMMISSION USA PRESS RELEASE, APRIL 1, 2010
American Mink Pelt Prices Test 2008 Highs
Results at this year’s opening auctions of North American mink suggest the industry is pulling clear of the international recession after just a single depressed season.
Two years ago, mink were setting record prices at the sales of American Legend and North American Fur Auctions. Then the world economy went into a tailspin, and pelt prices at last year’s opening auctions followed, falling by some 40%.
Particularly hard hit were larger males, as Russia placed stringent restrictions on the outflow of hard currency.
Signs of recovery were seen at last year’s closing auctions, and continued in December in Europe. So hopes were high for this year’s openers, and farmers were not disappointed.
At Legend’s February sale, prices of North American mink soared above year-before levels, in some cases surpassing highs set in 2008.
A strong contingent of buyers – mostly from China, but also from Korea, Greece and, thankfully, Russia – bought 100% of the offerings.
The auction house called prices on Blackglama and American Legend mahogany females “outstanding”, while mutations set new records.
Veteran fur watcher Sandy Parker reported that the “dark category, which accounted for fully half the Legend offering, advanced an average of 60% over year ago levels, the males coming within 10% of the records set two years ago and the females surpassing them by 6%.”
At the NAFA sale in March, strong prices continued, and once again the offerings were sold out. “NAFA concludes exceptionally strong auction,” read the company’s closing press release.
Lower grades and breeders will affect average prices at May’s sales. But the National Agricultural Statistics Service could still be reporting a new average high when its statistics come out in July.
The chart shown is not official, but we crunched the numbers as best we could, and we like what we see!
See also:
STATISTICS: Including US mink production, US retail sales and global retail sales.
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