Mink prices continue up at American Legend sale
SANDY PARKER REPORT, VOL. 33, ISSUE 16, JUNE 1, 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.
Subscribe now and receive all the latest news, either in print or electronically. Just $150 a year for 48 issues! Sandy Parker Reports, 21219 Lago Circle, Boca Raton, FL 33433; Tel: (561) 477-3764; Fax: (561) 862-7052; SParker@SandyParker.com; www.sandyparker.com
International Fur News
with Sandy Parker
Mink prices continue up at American Legend sale
THE RECENT UPWARD TURN IN MINK PRICES CONTINUED LAST WEEK at American Legend’s final sale of the season, which attracted a healthy attendance. At presstime, mink was selling at a 100% clip at prices described by buyers as slightly stronger than at the previous week’s auction in Toronto. The renewed strength was attributed at least partly to the sale’s last-chance nature, namely this was the final opportunity this year to buy North American mink – which still brings a premium over mink raised elsewhere – and, in particular, pelts that carry the Blackglama label which has special appeal in major markets.
China again was the dominant buyer throughout, with major support from Korea, particularly on the better females. Here, again, the females in general appeared to be showing more strength than the males, further narrowing the traditional price gap between them. This was a direct reflection of the absence of Russian buyers of males, whose operations all year have been severely curbed by tight government control over the outflow of hard currencies. The Russian trade is understood to be deeply in debt, especially to its Greek suppliers, perhaps to the tune of about $100 million or more.
THE SITUATION IS REMINISCENT OF RUSSIA’S ECONOMIC COLLAPSE 11 YEARS AGO, which led the Greek government to place a temporary freeze on the trade’s bank loan repayments. This was designed to keep its fur trade solvent and protect the jobs of the many thousands of workers in the fur-oriented towns of Northern Greece. According to trade reports, Greek manufacturers – who have been producing almost exclusively for the Russian market – will again be getting similar relief until those accounts are back on their feet and able to pay their bills.
IN THIS ISSUE:
Prices Continue Up at Legend
China Still Dominates Buying
Russia Remains on Sidelines
Harvesters Wild Mostly Firm
Consumers More Confident
For extracts from back issues of Sandy Parker Reports see News Archive. Subscribers can access an archive of complete issues at www.sandyparker.com.
