Chinese seen cutting fur crops

SANDY PARKER REPORT, VOL. 31, ISSUE 41, DEC. 17, 2007
The following extract is reproduced with permission from Sandy Parker Reports, Weekly International Fur News. Sandy Parker has been covering the fur industry for more than four decades. For most of that time he has published a weekly newsletter, detailing results of international pelt auctions, wholesale price trends, business developments and movements in the trade, as well as economic and political activities that may impact on it.
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International Fur News
with Sandy Parker
Chinese seen cutting fur crops
ALTHOUGH RAPID EXPANSION OF CHINA’S PRODUCTION OF RANCHED FURS HAS DESTABILIZED PRICES of some items at the commercial level, Finnish Fur Sales is confident this is only a temporary situation. In a recent assessment of the international market, the company noted that, while Finnish bluefox farmers had reduced this year’s production by 30%, plummeting prices have caused the Chinese to slash their crop by as much as 60%. Similarly, while Finnish raccoon still enjoys good demand, last year’s excess production of Chinese raccoon – combined with the mild winter – has resulted in warehouses packed with unsold stocks of coats trimmed with the Chinese skins. However, finnraccoon, she points out, remains a special product.
By the same token, the Finnish auction house expects Chinese mink production to make a sharp turnaround following its explosive growth. The flood of mink in that market has caused commercial garment prices to drop about 25% and it is feared that budget-priced items may harm the overall image of mink there. Nevertheless, the company believes the price differences between the grades of mink will remain significant in the Chinese wholesale market, favoring shorter-haired pelts. Premium quality products, it states, are less likely to face price competition.
FUR APPAREL IMPORTS INTO THE U.S. DECLINED AGAIN IN OCTOBER, continuing a 17-month slide that reflected a cutback in planning by retailers following two disappointing seasons. The latest declines were across the board and were true of all the major shippers. Even Italy, which had been the lone source to show increases most of the year, registered a drop in October. Total imports from all sources during the month, according to the Commerce Dept., amounted to $30.2 million, down 20% from the same month last year. This consisted of $17.7 million in mink apparel, down 11%, and $12.5 million in other furs, a drop of 31%.
IN THIS ISSUE:
Retail Sales Moving Along
Mink Down at Danish Opener
Farmed Sables Soar in Russia
Chinese Seen Cutting Crops
U.S. Imports Continue Slide
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.
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