Mink Market Difficulties Impact January-February Sales

04 February of 2016 by

February 3rd 2016

NAFA’s January-February 2016 mink auction concluded today, with the sale of Demi Brown males, White males and females, and other mutations.

Clearances across all qualities of Demi males sold in excess of 60% at slightly easier prices.
White male and female mink struggled in almost all grades to find firm market levels, selling 50%. Obviously the large quantities to come are having an effect on the market.

As we had previously indicated, we were faced with exceptionally difficult challenges going into our first auction, including:

  • The sudden, dramatic fall in prices in September, which created huge capital losses across the industry.
  • Unseasonably warm weather in December in many of the important markets across the globe.
  • Political unrest in Russia, and the Ruble suffering to less than half of its value from early last year, effectively flattening the consumer market in that country.
  • The instability in the global stock markets, including in China, and the financial unease that continues to follow.

In addition, as we all know, there are too many mink being produced in the world today.

Despite this, NAFA was able to achieve our pre-sale goal of selling approximately 60%. Managing the auction was a challenging task, however, because of our renowned, high quality collection of mink, we were able to get as much participation as possible from key markets, including Korea, China and Greece and we want to thank our loyal customers from all markets.

Today’s sale included Top Lots in Violet males and females. The Top Lot of Violet Mink — Male was purchased by Ds FURS, of Seoul, Korea for $190. Produced by Zimbal Mink.

The Top Lot of Violet Mink — Female was purchased by Michail Vogiatzis for Via Cappella, of Moscow, Russia for $150. Produced by Zimbal Mink.

FULL PDF REPORT: NAFA-Sales-Report-02-03-2016-PDF

source: http://www.nafa.ca


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