Mink prices dip as Russian buyers pull back

SANDY PARKER REPORT, VOL. 30, ISSUE 15, MAY 29, 2006
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 dip as Russian buyers pull back
MINK PRICES AT THE NORTH AMERICAN FUR AUCTION in Toronto last week followed the same pattern as at the previous week’s sale in Seattle: down slightly from their record levels in February, but insignificant in terms of impact on garment prices. This was the final sale of North American mink for this year and the event was well attended, but a smaller crowd than was at the February sale. As was the case at other recent auctions, Hong Kong/China dominated the room with good support from Greece/Russia on the males and Korea on the better females. Again, it appeared that Russian buying had tapered somewhat from the more aggressive stance taken in February.
As was the situation in Seattle – and in the April Copenhagen sale that preceded it – a decline in Greek/Russian participation was believed to have caused mink prices to ease from their record February levels. That pull-back by the Russians (to a great extent represented at the sales by Greek manufacturers and skin dealers) has been attributed to a possible exhaustion of temporary financing and/or a belief that mink prices could decline another 10% or so in June. That is when a total of six million mink, or about 15% of the total world crop, is scheduled to be put on sale in Scandinavia. Considering that Scandinavian skins comprise the major part of their mink needs, their election to hold off is understood.
THE STRONG DEMAND FOR WILD FURS that propelled prices at the February sale to their highest levels in years continued last week, but the price strength abated somewhat. It was the largest May collection in years because of that strength, according to NAFA. Main buyers were Greece, Hong Kong/China, Canada, Europe and Russia. While muskrat and fisher prices set new records, other items backed off a bit.
IN THIS ISSUE:
Mink Prices Ease at NAFA Sale
Hong Kong/China Still Dominate…
…but Greece/Russia Back Off a Bit
Guilty Plea in Bid-Rigging Case
Trade Edgy over Justice Dept. Plans
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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