Mink up again at Finnish Fur Sales

SANDY PARKER REPORT, VOL. 31, ISSUE 16, JUNE 4, 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 up again at Finnish Fur Sales

STRONG DEMAND, PARTICULARLY FROM GREECE, greeted the opening of the six-day event at Finnish Fur Sales late last week, pushing mink prices even higher than buyers had anticipated. Only four categories had been offered by presstime, but it was apparent that the pattern was set for the balance of the 2.2 million pelts in the collection, a large percentage being breeders and lowgrades. According to buyers, prices were higher than similar goods offered at the last Copenhagen sale and the international collections sold at recent auctions in North America. Moreover, the company reported the lowgrades were completely sold “at strong levels in comparison to the regular goods.”

The sale was attended by about 400 buyers representing all the major markets, but it was Greece that dominated on opening day, with good support from Hong Kong/China.

HONG KONG MANUFACTURERS HAVE NOT YET POSTED NEW PRICE INCREASES, but wholesale vendors and retailers who deal direct with Hong Kong are expecting the notices shortly. They figure the producers are waiting for the results of this sale and the big Copenhagen auction next week. Both are major sales, offering a combined total of over 7 million mink, but perhaps more important, a last opportunity to acquire this season’s first-quality goods.

This would virtually guarantee that the manufacturers will boost prices in line with their higher skin costs. But, while mink prices have regained much of the ground that was lost when they plunged in February, they are still short of the peaks they reached last year and there is considered to be little chance they will get back to those levels this season, at least. Which would mean that new increases at the garment level should still put wholesale prices below last year’s levels.

IN THIS ISSUE:
Mink Up Again in Finland
Greece, for Russia, Leads Buying
Garment Increases Seen Following
Wild Furs also Show Strength
U.S. Consumer Confidence Rises

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