Trade in 2009 hit by recesssion

SANDY PARKER REPORT, VOL. 33, ISSUE 44, JANUARY 11, 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

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.

IN THIS ISSUE
Trade in ’09 Hit by Recession
Skin Prices Skid to Lows
Business Declines at Fairs
China Paces World Recovery…
…and Sparks Big Price Upturn

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