7 million mink skins under the hammer
6 February 2014Auction
The eyes of the international fur trade are looking keenly on Kopenhagen Fur's February auction. The fur market is marked by great uncertainty with regard to the price level on mink skins after low sales percentages and falling skin prices at the auctions in December.
The demand for mink has been record-high in recent years and has made the mink production increase strongly. The world production has now reached more than 80 million and this is more than a doubling in just a few years. The increase has happened abroad, especially, whereas the Danish mink production has increased slightly.
- With the large output of skins during this season compared with a retail sale marked by a mild winter on the main markets, there is no doubt that the price on mink skins must fall even more. It is important to find a market price although it may be low. Low sales percentages cause so much uncertainty that no one dares to enter into commitments. We have a number of fur fairs in front of us and therefore it is important to establish a new market price before the fairs, saysTorben Nielsen, CEO, Kopenhagen Fur.
The offering at this auction is just above 7 million mink skins of which one million is unsold skins from the December auction. The number of customers is expected to be around 500. The group of Asian customers is expected to be 200 to 250 at the moment.
- Due to large stocks of garments the trade is marked by lack of liquidity. Kopenhagen Fur is so well-funded that we can offer our customers favourable financing terms and together with the buyers' expectation that we will meet the market, it has sharpened the customers' interest in the auction, saysTorben Nielsen.