Mink prices ease at North American Fur Auctions

SANDY PARKER REPORT, VOL. 32, ISSUE 16, JUNE 2, 2008
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 ease at North American Fur Auctions
MINK PRICES EASED A BIT DURING LAST WEEK’S SALE at North American Fur Auctions, as major buyers satisfied their foreseeable requirements, but still remained close to their historic highs. This was NAFA’s final sale of the season and also marked the movement of the remains of this year’s supply of North American mink into the distribution channels. With this week’s auction in Helsinki and the following week’s in Copenhagen, the year’s supply of regular-quality mink will have moved out of the primary markets. At this point, it appears that the price structure for the balance of the year has been established.
The latest results were not expected to bring further price changes at the wholesale level, manufacturers having made their upward revisions following the previous auction round, when mink prices set new records. But the biggest gains at that time were in the males, the bulk of which were bought by Russia and China for use mainly in hats, trimmings and other single-skin applications. The females, which go mostly into garments, did not advance as much. In fact, when Hong Kong manufacturers raised prices after their fair they made the increases effective on new orders and repeats and said they would amount to only about 5% or 10%.
However, female prices eased at the latest auction round and, if that pattern continues at the Scandinavian sales, garment prices could settle back to their opening levels. But both the euro in which the Finns sell and the Danish kroner have edged up further against the dollar, so any easing of prices in those currencies may not translate into much of a decline in dollars. Because most of the international trade is conducted in dollars – and with the exchange rates these days in constant flux – the currency market bears as much watching as auction prices.
IN THIS ISSUE:
Mink Prices Ease at NAFA
Still Close to Record Highs
No New Garment Hikes Seen
Wild Fur Prices Up Again
Consumer Confidence Drops
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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