Mink Prices Flirting with New Highs

SANDY PARKER REPORT, VOL. 29, ISSUE 48, FEBRUARY 13, 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 Flirting with New Highs
STRONG COMPETITION RESULTED IN FURTHER SHARP PRICE ADVANCES for mink and other furs in Copenhagen last week, again setting the stage for new increases at the garment level. As had been expected, most of the power in the auction room was furnished by Hong Kong/China and Greece/Russia, which set the pace and forced all other potential buyers either to accept the new levels or to move to the sidelines and hope for an easing later in the season. That possibility, however, was all but ruled out by veteran market observers who expect the current demand for mink and other skins to be sustained at least in part by the huge appetites of China and Russia, which have been having an excellent retail season.
MINK PRICES ARE NOW FLIRTING WITH THE HIGHEST LEVELS IN MEMORY – if not history – having already soared substantially above those set at the comparable sale in Copenhagen 12 months ago. The last peak was in 1996, when American mink brought an overall male/female hammer average of $53.10. Although that was followed by seven years of depressed prices, the market has since rebounded and last year’s U.S. average reached $48.40. If the just-concluded sale in Copenhagen is indicative – and it usually is – the upcoming North American sales should also show substantial increases over a year ago.
The Danish company made its price comparisons only to its December sale, as did buyers. These ranged to as much as 20% higher, with most categories up in the 5% to 10% range. However, SPR’s comparison with last February’s Copenhagen results finds the mink averages ranging from 20% to 60% higher than a year ago, reflecting the increases that took place at the interim sales.
IN THIS ISSUE:
Mink Soars at Danish Auction
New Prices at Record Levels
Pace Set by China, Russia
Similar Hikes Seen at NAFA
Big Garment Increases Expected
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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