Mink prices firm up again in Copenhagen
SANDY PARKER REPORT, VOL. 30, ISSUE 20, JULY 3, 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 firm up again in Copenhagen
A FIRMER TONE RETURNED TO MINK PRICES LAST WEEK IN COPENHAGEN, as a huge crowd of international buyers competed actively for the season’s last major offering of first-quality skins. Following a round of sales that saw prices ease below the record levels that were reached in March, Kopenhagen Fur was able to turn over virtually its entire offering of 4 million pelts at prices that were close to those at its last sale in April and, in some cases, even a bit higher. Pre-sale indications had been that the recent softening trend – which was widely attributed to a backing-off by Russia after the big February round – would continue at this event, but last week’s large Russian turnout proved otherwise.
It also had been expected that the auction company might have to sacrifice some turnover in order to keep prices from drifting lower, but the strength and diversity of the demand apparently obviated that need. Although Hong Kong/China again dominated the sale, there was enough support from Greece/Russia, Korea and Italy not only to move all the goods but to equal last June’s achievement of a record amount of mink sold in a five-day period. So close were many of the prices to April’s levels that the question of whether they were higher or lower depended on the currency in which they were calculated.
THIS HAVING BEEN THE LAST SUBSTANTIAL AUCTION OF THE SEASON would indicate that the skin price structure is now firmly established for the rest of the year and not likely to change under normal conditions. Late last week, there was little word from Hong Kong’s manufacturers as to how the recent easing at the skin level will affect their price lists. The general expectation is that some downward revisions on new orders and reorders for mink garments may be forthcoming shortly.
IN THIS ISSUE:
Ranchers’ Class-Action Gets Break
N.Y. Dealer Agrees to Supply Details
Aid for Federal Case Is Feared
Mink Prices Firmer in Copenhagen
U.S. Consumers More Confident
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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