Sliding euro eases $ prices at Finnish sale

SANDY PARKER REPORT, VOL. 34, ISSUE 18, JUNE 14, 2010
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
Sliding euro eases $ prices at Finnish sale
THE EURO’S WEAKNESS WAS NOTED LAST WEEK AT FINNISH FUR SALES where, in reporting silver and blue frost foxes rose 10% in euros over March, the company pointed out that the currency had weakened by that much since March. In other words, the foxes were merely firm to March in dollar terms. That also meant that the big bluefox collection which brought 5% more in euros was actually 5% easier in dollars.
This was the Finns’ final major sale of regular-quality pelts for this season and the offering was nearly completely sold. With 550 buyers from all markets in attendance, officials described it as a record crowd for a June auction. Hong Kong/China was the dominant buyer in most categories, with support from Greece, Russia, Turkey, Korea and other markets.
Mink prices were described as slightly higher in euros, compared to recent international levels.
IN THIS ISSUE
China Labor Costs Increasing …
… but No Big Impact on Furs – Yet
Pegged Currency Is Still Stable
Sliding Euro Eases $ Prices
Foxes Firm at Finnish Sale
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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