Mink prices turn upward in Copenhagen

SANDY PARKER REPORT, VOL. 31, ISSUE 48, FEB. 11, 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 turn upward in Copenhagen
MINK PRICES RESUMED THEIR UPWARD COURSE IN COPENHAGEN LAST WEEK, continuing a path that was briefly interrupted in December, when uncertainty caused buyers to take a brief step back. But buyers – especially the Chinese – apparently have regained their confidence and again are taking on goods at a healthy clip. Prices have not yet reached the all-time peaks registered in December, 2006, but are not that far from them and conceivably could get there before the auction season is over. Much will depend on how the retail season winds up – particularly in China and Russia – and, so far, the indications are good.
Prices have been on the rebound since their big plunge last February as a result of a disappointing retail season that left many stores with large inventories and pointed to fewer sales at the upcoming Hong Kong fair. But the current retail season represents a major improvement over last year’s, giving manufacturers and skin dealers much more encouragement. The scene at Kopenhagen Fur last week found 450 buyers present, scrambling for the 3.4 million mink, which were all sold.
OF THE 450 BUYERS AT THE KOPENHAGEN SALE, 280 were from China and were by far the largest takers. This would indicate the Chinese market, which has been growing almost exponentially, is enjoying another good season and preparing for still further expansion. Last week’s big purchases of Danish mink were in the face of the huge increase in their domestic mink crop, none of which is known to be exported. There are no official figures regarding Chinese mink production, but unofficial estimates had placed it between 12.5 and 15 million last year. However, indications from dressing plants, vaccine producers, feed suppliers and other ancillary trades serving the farmers have caused observers to sharply upgrade their production estimates.
IN THIS ISSUE:
Mink Turns Upward in Copenhagen
Prices Up 17% Over June Levels
China Again Takes Bulk of Sale
Retailers Score Decent January
U.S. Ban on Seal Use Invalid?
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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