Year’s average mink prices set all-time record

SANDY PARKER REPORT, VOL. 30, ISSUE 29, SEPT. 25, 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
Year’s average mink prices set all-time record
THE 2005-06 AUCTION SEASON, WHICH ENDED LAST WEEK, not only finished on a strong note, but with this year’s international mink price averages at all-time record highs. The renewed popularity of furs in recent years and the adoption of mink and other furs by more designers than ever have contributed significantly to increased demand for the pelts. However, it is unquestionably the development of the new markets in Russia and China and their aggressive buying that have done the most to propel the prices skyward.
This year’s mink prices at auctions on both sides of the Atlantic were not only the highest in history, but double what they were three years ago, an indication of the sharpness of the upturn. The overall season average for American mink (males and females combined) was $60.90, compared with $30.60 in the 2003 season, according to the U.S. Dept. of Agriculture. Comparable total-season figures were not yet available from Scandinavian sources, but the final sale at Kopenhagen Fur, produced averages for the individual mink categories that were double those of the same sale three years ago.
IT IS STILL TOO EARLY TO DETERMINE HOW MUCH OF AN IMPACT THE HIGHER PRICES WILL MAKE ON RANCHERS’ PRODUCTION PLANS, but there is a consensus that the world crop will increase. For the past five years, U.S. production has remained around 2.6 million despite a 16% drop in the number of farms, which last year amounted to 277. While some of the larger, better-capitalized operators have been able to increase their herds, the smaller farms were still beset by natural attrition. Thus, while the number of farms may continue to shrink, that shrinkage now is even more likely than before to be offset by increased production on the bigger ranches.
IN THIS ISSUE:
Mink Prices Hit Record High
Fashion and New Markets Cited
Finnish Season Ends Higher
Brennan Quits as Legend Chief
Garment Prices Going Up, Again
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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