Mink pelt prices seen on solid footing

SANDY PARKER REPORT, VOL. 33, ISSUE 6, MARCH 23, 2009
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

Mink pelt prices seen on solid footing

THE HIGH TURNOVER OF SKINS AT BOTH OPENING MINK AUCTIONS IN NORTH AMERICA is a strong signal that the international market is confident it can do business in the year ahead despite the turmoil in the financial markets. That confidence will undergo further testing this week and next, when a total of 8 million more mink go under the hammers in Helsinki and Copenhagen. However, trade veterans believe that this year’s substantially lower price structure is on a solid foundation and that both of these offerings should incur little resistance from the major markets.

The recent American Legend sale pretty much echoed the results at North American Fur Auctions, prices slightly stronger in some areas and easier in others. But the overall pattern was the same, with larger males reflecting the absence of Russian and Turkish buyers and females benefitting from strong Chinese and Korean support. That the mutations showed relatively greater strength than they did at NAFA was attributed to the limited quantities Legend offered. At both auctions, the averages were down about 40% from a year ago, as was the case elsewhere, with the males registering the greatest declines. As a result, the price gap between the males and females has narrowed considerably.

THE PRE-SALE APPREHENSION IN VIEW OF THE FINANCIAL SITUATION was somewhat relieved by the favorable results in Toronto, but the attendance was down sharply from a year ago nevertheless – 240 vs. 350. The biggest drop was in the number of Russians, as well as their Greek and Turkish suppliers. With the ruble down nearly 50% in value from a year ago, current mink prices are actually higher in that currency. Not only is Russian buying severely restricted by the weaker ruble, but the government has placed strict curbs on the outflow of hard currencies.

IN THIS ISSUE:
Prices Seen on Solid Footing
Legend Sale Maintains Levels
Wild Fur Demand Selective
NAFFEM Registrations Ahead
U.S. Imports Continue Slide

For extracts from back issues of Sandy Parker Reports see News Archive. Subscribers can access an archive of complete issues at www.sandyparker.com.