Mink prices up again in Denmark

SANDY PARKER REPORT, VOL. 31, ISSUE 18, JUNE 18, 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 up again in Denmark
STEADY DEMAND FROM THE BROAD INTERNATIONAL MARKET continued to push mink prices upward at Kopenhagen Fur last week, where a record offering of over 5 million pelts went under the hammer. This was the season’s last major offering of first-quality pelts, but it also consisted of a large quantity of breeders, lowgrades and smaller sizes. Hong Kong/China continued to dominate the buying in most of the categories, with strong support from Greece/Russia on the males and Korea on the better females.
As has been the case since mink prices began to rebound following their plunge in February, the biggest gains last week were in the male skins, while females mostly remained firm to April or edged up slightly. This is still believed to be a reflection of the disappointing retail season attributed to the mild winter, which resulted in larger-than-normal inventory carryovers. Those stocks are what inhibited orders for new garments at the Hong Kong and other fairs earlier this year, which in turn has put a damper on demand for the female pelts. This has not been the case in the males, which mainly go into such single-skin applications as trimmings, hats and other accessories, which are still the principal sellers in China and Russia.
IMPORTS OF FUR APPAREL INTO THE U.S. CONTINUED THEIR STEEP DOWNTREND IN APRIL, also a reflection of inventory carryovers from last year at both the retail and wholesale levels. And again, as has been the case in the previous months, the biggest declines have been in the mink category. According to the latest Commerce Dept. data, April imports from all sources amounted to $6 million, a decline of 31% from the same month last year. This consisted of $3.7 million in mink, down 38%, and $2.3 million in other furs, off 17%.
IN THIS ISSUE:
Mink Prices Up again in Denmark
Males Still Post Biggest Gains
Auction Season Ending on High Note
Garment Prices also Seen Rising
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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