Mink prices rebound in Seattle

SANDY PARKER REPORT, VOL. 31, ISSUE 14, MAY 21, 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 Seattle
MINK PRICES RECOVERED MORE LOST GROUND IN SEATTLE LAST WEEK, as a record attendance for a May auction cleared the entire offering and pushed the averages closer to last year’s high levels. The buying was dominated by the big Hong Kong/Chinese contingent that comprised virtually half the auction room, with strong support from Greece/Russia, Korea and the other markets. The sale’s strength augured well for this week’s auction in Toronto, which marks the windup of this year’s North American mink offerings. It also appears to confirm that the sharp drop in Copenhagen in February was merely a temporary correction following the long climb and that the market’s confidence has returned.
The results were expected to trigger new price increases at the wholesale level for garments made of North American pelts, especially if this week’s sale follows suit.. There has been no word yet from Hong Kong manufacturers, many of whom are now in Toronto and understood to be waiting for that outcome before recalculating their costs. They also will be waiting for the Copenhagen sale in three weeks, when the Danes will be putting a whopping 5 million mink under the hammer.
IMPORTS OF FUR APPAREL INTO THE UNITED STATES PLUNGED AGAIN IN MARCH, mainly reflecting another sharp drop in shipments from Hong Kong/China, which has been America’s principal supplier for the past seven years. Imports from Hong Kong in the first quarter of this year dropped below those from Canada for the first time since 1999. One possible explanation is that cutbacks by retailers in their orders for the past season have mainly taken a toll on mink garments, most of which are produced in China. Until recently, imports of mink overshadowed all other furs combined. However, most of the past year’s monthly reports have shown other furs outpacing mink.
IN THIS ISSUE:
Mink Prices Rebound in Seattle
Up as Much as 25% over February
China, Russia Biggest Buyers
U.S. Imports Still Tumbling
Canada Again Is Top Supplier
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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