Mink prices sharply up in Copenhagen

SANDY PARKER REPORT, VOL. 30, ISSUE 28, SEPT. 18, 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 sharply up in Copenhagen
MINK PRICES TURNED SHARPLY UPWARD IN COPENHAGEN LAST WEEK, as Greece/Russia and Hong Kong/China put strong pressure on the season’s final offering at Kopenhagen Fur. Prices advanced as much as 22% over June levels and in some cases exceeded the records established earlier this year. The increases immediately set the stage for a new round of hikes in the wholesale prices of mink garments, trimmings and accessories. This would make it the fourth consecutive year of price increases at the manufacturing level, all of them triggered by demand from the still-growing Chinese and Russian markets.
Considering that most North American and Western European retailers have already placed the bulk of their orders for the approaching selling season, few are likely to get hit with the new increases. These are expected to be applied mainly to new orders and reorders that may develop as a result of consumer reaction to the furriers’ collections. However, the timing of the increases will also depend on manufacturers’ ability to fill current orders from existing stocks of skins. Orders that were booked for October-November delivery, for example, may not yet have been put into work and also might be affected if skin supplies are short.
TO PUT TODAY’S PRICES IN A CLEARER PERSPECTIVE, SPR went back three years to the September ‘03 sale in Copenhagen, when mink prices began their climb. That auction produced prices that were as much as 40% higher than the preceding June sale. Since that point, however, the averages have about doubled. In the regular black category, for example, the males that brought $35.80 three years ago averaged over $75 last week, while the females advanced from $23.30 to $47. Similarly, brown males that were $39.50 then are $67.50 today, the females going from $24.60 to $46.
IN THIS ISSUE:
Mink Up Sharply in Copenhagen
China, Russia Again Main Sparks
Prices Doubled in Three Years
New Garment Hikes to Follow
U.S. Imports Continue to Slide
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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