Mink prices continue to climb

SANDY PARKER REPORT, VOL. 31, ISSUE 17, JUNE 11, 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

Mink prices continue to climb

MINK CONTINUED TO REBOUND FROM ITS FEBRUARY SLUMP LAST WEEK, when the large offering at Finnish Fur Sales was virtually all sold at prices as much as 30% above those at the company’s March sale and up to 20% higher than the April Copenhagen auction. Except for the opening day, when Greece dominated the buying of black males, Hong Kong/China resumed the lead for most of the six-day auction not only in the mink catalog, but in the foxes as well. This was the final sale of the company’s current fiscal year, which ends Aug. 31, and the board of directors had predicted that – because of a poor third quarter -  the results would determine whether it shows a profit for the year.

The company’s first half showed gains, reflecting increased volume and the high price levels that prevailed at its September and December sales. But at the March sale, pelt prices were well below those at the same sale last year because of uncertain market conditions. The company plans to publish an interim nine-month report July 12.

THE AUCTION SCENE SHIFTED TO KOPENHAGEN FUR AT THE WEEKEND, where a total of 5 million mink – plus other furs – will be offered over the next five days. This sale, too, was drawing a huge attendance and buyers were expecting the price strength to continue unabated.

If, in fact, prices in Copenhagen do surpass the levels reached in Helsinki, they could be at or close to the all-time highs reached last year – for the males, at least. At virtually all the mink auctions since February’s price plunge, males have been showing the quickest recovery and have advanced to within 10% of last year’s highs. Although the females also have strengthened, they still are more like 20% behind last year’s levels.

IN THIS ISSUE:
Mink Prices Continue to Climb
Helsinki Levels Surge Higher
Fox Prices Edge Downward
More Gains Seen in Copenhagen
N.Y. Market to be Show-less?

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