Record auction value set by 2005 mink pelt crop

SANDY PARKER REPORT, VOL. 30, ISSUE 23, AUGUST 14, 2006
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
Record auction value set by 2005 mink pelt crop
THE AVERAGE PRICE OF AMERICAN MINK PRODUCED IN 2005 and sold at this year’s auctions increased 29.3% over last year’s levels and reached an all-time high, according to data compiled by the U.S. Agriculture Dept.’s statistical service. That crop totaled 2.63 million pelts, an increase of 3% over the previous year, and realized a total of $160 million compared to $120 million. The per skin average (male/female) was $60.90, versus $47.10 the previous year. The averages include commissions and fees paid to the auction companies. In the past two decades, there have been only six years in which prices averaged over $35, which ranchers consider break-even. In the meantime, the number of farms producing mink declined another 6% to a total of 277. That compared with 2,800 ranches and a crop of 5.7 million mink in 1969, when the government started keeping such records. Utah again led the country in terms of the number of farms with 70, down 10 from the previous year, but second-place Wisconsin’s 67 farms (unchanged) produced 778,000 pelts compared to Utah’s 600,000. There were 21 farms that also raised foxes, up from 17 the prior year.
This year’s production, based on the number of females bred, is expected to be up about 2%, according to the government figures. A recent check of ranching sources, however, indicated that this year’s U.S. crop should be about 3% to 5% larger, based on early kit counts, weather conditions and other factors (SPR, July 17). The number of females bred totaled 651,600. Broken down by color class: Black 49.5% (up from 46.8%); mahogany 17.8% (20%); blue iris 11.2% (10.7%); demi/wild 6.3% (5.9%); sapphire 4.1% (5.9%), and white 4% (4.2%). The remaining color classes accounted for 7.1%, as opposed to 5.5% last year.
IN THIS ISSUE:
Some Prices Raised by Hong Kong
Retail Traffic Slowed by Heat
Consumer Confidence Inches Up
U.S. Mink Average Sets Record
IFTF Launches Big Campaign
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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