World farmed-mink production at new high

SANDY PARKER REPORT, VOL. 30, ISSUE 32, OCT. 16, 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
World farmed-mink production at new high
WORLD PRODUCTION OF RANCHED MINK REACHED A NEW HIGH THIS YEAR, as breeders in almost all the producing countries were encouraged by steadily rising pelt prices to increase their herds. According to the annual computations by Oslo Fur Auctions, the current crop will amount to slightly over 44.6 million, a gain of 11% over the 2005 crop that was marketed this year, which also had represented a new high. At the same time, the compilations indicated that world production of ranched foxes rose 7.2% to a total of 7 million, which also represented a new high. In both cases, the increases were mainly due to the steady growth of fur farming in China in general and that country’s sharp rise this year in particular.
IN THE MEANTIME, ALTHOUGH THIS YEAR’S MINK CROP HAS INCREASED, there are those who believe it may not be enough to satisfy next year’s anticipated demand based on the growing markets – or that this year’s demand will even be met. The current year’s supply has been completely sold at the auction level and merchants report the supply of mink skins in the open market is extremely low. Clearances at the auction houses have been described as excellent and dealers/brokers are reporting continuing inquiries for goods, mainly from the Far East and Russia. Those retail markets have now become active and reportedly beginning to put pressure on Hong Kong manufacturers.
Estimates by qualified sources are that the mink that was marketed this year could be short by as much as 8 million pelts in terms of what could be consumed in the upcoming season. If they are correct, it would mean that this year’s mink crop would still fall short of next year’s market needs, causing normal supply/demand forces to keep propelling skin prices higher in the coming auction season.
IN THIS ISSUE:
World Mink Crop Rises 11%
Production Sets New Record
Ranched Foxes Also at Peak
Gains Mainly Due to China
Mink Supply Still Seen Short
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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