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The following extract is reproduced with permission from Sandy Parker Reports, Weekly International Fur News. Sandy Parker has been covering the fur industry for over 43 years. For the last 33 years he has published a weekly newsletter, detailing results of all the major international pelt auctions, wholesale price trends, business developments and movements within the trade, as well as economic and political activities that may impact on it.
To receive these reports either in print or electronically, subscribe to Sandy Parker Reports, 21219 Lago Circle, Boca Raton, FL 33433; Tel: (561) 477-3764; Fax: (561) 862-7052; SParker@SandyParker.com; www.sandyparker.com
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IN THIS ISSUE Trade in '09 Hit by Recession |
with Sandy Parker
Trade in 2009 hit by recesssion
THE YEAR IN REVIEW
THAT 2009 PROVED TO BE THE DIFFICULT YEAR for the international fur trade that it was can be attributed in good measure to the recession that spread around the world late the previous year. The financial meltdown that began in the U.S. rippled around the globe and caused businesses - particularly those in the luxury field - to pull in their horns in anticipation of a cutback in consumer spending. As a result, skin prices fell sharply at the opening of the new auction season, when the major houses decided to allow the market to seek a level that would encourage a return of demand.
As it turned out, that apparently was the right move; not only were the offerings completely sold but, by the end of the year, mink - the backbone of the industry - had recovered its lost ground.
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.