US fur apparel imports continue to slide

SANDY PARKER REPORT, VOL. 31, ISSUE 22, JULY 16, 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

US fur apparel imports continue to slide

U.S. IMPORTS OF FUR APPAREL DROPPED AGAIN IN MAY, continuing the slide that began more than a year ago and again reflecting heavy carryovers of inventory from the previous year. As has been the case up to now, the biggest declines were in the mink category and believed to be caused mainly by a drop in orders for full-length coats. The latest figures are understood to reflect shipments of sample orders placed by wholesalers at the Hong Kong and other fairs. According to Commerce Dept. data, imports from all sources in May amounted to $9.7 million, a drop of more than 30% from last year’s month. The mink portion was down 39% at $5 million, while other furs declined 18% to $4.7 million.

The May receipts brought the total for the first five months of the year to $27.3 million, a drop of 46% from last year’s period. This consisted of $13.8 million in mink garments, down 56%, and $13.6 million in other furs, down 32%. Imports from Hong Kong/China in the latest month were down 38% at $4.6 million, including $3.4 million in mink, off 39%, and $1.2 million in other furs, down 35%. That shipments from Hong Kong were down for the past three months would appear to confirm earlier reports that American vendors and retailers cut their buying sharply there this year. The five-month total from that source was $11.6 million, less than half of what it was last year. This consisted of $8.4 million in mink, down 58%, and $3.2 million other, down 37%.

Italy was the only major supplier to show an increase in the past two months, indicating American orders at the Milan fair were larger this year. Imports from that source in May rose 13% to $1.4 million.

IN THIS ISSUE:
World Markets in Summer Hiatus
U.S. Dollar Slide Worries Canadians
Could Result in Price Increases
China Cuts Export Tax Rebates
U.S. Imports Continue Downward

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