Mink prices rebound in Copenhagen

SANDY PARKER REPORT, VOL. 31, ISSUE 10, APR. 23, 2007
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 rebound in Copenhagen
MINK PRICES FOUND FRESH STRENGTH AT THE BIG SALE IN COPENHAGEN LAST WEEK, recovering some of the ground that was lost earlier this year when they plunged about 30% in what was regarded as a correction. Last week’s increases, in the face of the huge quantity that was offered, had a positive effect on the international trade, reassuring that the supply/demand ratio remains pretty much in balance. It demonstrated, too, that the Chinese and Russian markets – the main participants at this sale – were not fazed by the disappointing season due to the mild winter.
But while the buyers’ confidence apparently has been restored at the lower price levels, they have not resumed their buy-it-at-any-price approach that sent prices soaring for the past three years. It was clear that the demonstration of the weather’s influence on retail sales and the ensuing price plunge at the skin level had had a sobering effect on the relatively new buyers, causing them to exercise more restraint. Nevertheless, the result was in sharp contrast to that of the February sale in Copenhagen, when less than half the offering was sold because the auction house would not sell at more than 20% below last December’s levels.
IMPORTS OF FUR APPAREL INTO THE U.S. CONTINUED TO PLUNGE IN FEBRUARY, as retailers strove to keep their inventories down. Although February normally is not a major delivery month, the shipments include special orders and fill-ins, which this year may not have materialized because of the mild winter. According to the latest Commerce Dept. data, imports from all sources in February dropped 58% from a year ago to a total of $3.5 million. This consisted of $1.3 million in mink, down 68%, and $2.2 million in other furs, down 48%.
IN THIS ISSUE:
Mink Prices Rebound in Copenhagen
Strong Demand Clears Big Offering
China, Russia Again Main Buyers
Garment Prices Seen Firming Up
U.S. Imports Continue to Drop
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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