Mink prices soar in Seattle

SANDY PARKER REPORT, VOL. 32, ISSUE 2, FEB. 25, 2008
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 soar in Seattle

MINK PRICES WENT THROUGH THE ROOF IN SEATTLE LAST WEEK, not only recovering all the ground that was lost last February, but shattering the records set the previous year. The sale at American Legend drew over 350 buyers, its biggest attendance ever and at times it was standing room only. The crowd was overwhelmingly from Hong Kong and China, but with strong representation from Greece/Russia and South Korea. The huge attendance from mainland China again was clear evidence of how rapidly that market is developing not only as a manufacturer for the world, but even more significantly for its own domestic consumption.

Under strong pressure from Greece/Russia, the average price of Blackglama males soared to an all-time high of $96.16, which was 14% above the previous record set two years ago. Compared to last year’s February sale, which was depressed, the averages for the blacks and other categories were up as much as 50% and more.

See also American Legend press release, Feb. 21, 2008.

SHORTER SUPPLIES OF NORTH AMERICAN WILD FURS, together with increased demand from such markets as Russia and China are resulting in stronger prices for many types. The decline in this year’s harvest is being attributed to a number of factors, including earlier animal hibernation because of an earlier onset of cold weather, particularly in Canada. But the high cost of fuel for trappers’ vehicles also has played an important role, especially in view of expectations of lower pelt prices because of inventory carryovers.

The new price strength was evident at the Fur Harvesters Auction last week in Seattle, where a large attendance was on hand for the Legend mink offer. Prices for marten, lynx and lynx cat reached the highest levels in 20 years, while many other articles were stronger than at the January sale in North Bay. Beaver rose about 10% and raccoon 15%-20%.

IN THIS ISSUE:
Mink Prices Soar in Seattle
Males Set New Records
Females Advance More Slowly
Russia, China Set the Pace
Garment Prices to Follow Suit

For extracts from back issues of Sandy Parker Reports see News Archive. Subscribers can access an archive of complete issues at www.sandyparker.com.