NAFA Wild Fur Market Update Jan. 27

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http://www.nafa.ca/wild-fur-market-u...nuary-27-2017/

Wild Fur Market Update - January 27, 2017
January 27, 2017

Chinese New Year starts this weekend and now that all of us from NAFA’s Senior Management team have returned from visiting the different markets, I am pleased to say that we see the future with a more positive outlook. The additional promotional money that NAFA, together with the WFSC, has put into wild fur is exceptionally important and is paying off. There is definitely more interest in wild fur and this will have a very positive influence on the percentage of sale as well as prices. I am confident that our later selling date for most of our wild furs will enhance the prices as well as clearances.

The colder than usual winter in Europe and the early cold winter in North America has helped retailers with the sale of coyote for trim on down jackets. Coyotes will see prices increase over last year, especially for the Western better sections. Inventories are low due to weather conditions; the fresh catch is also below normal production. The only question will be on the commercial Eastern and flatter coyotes. Other trimming articles such as Red and Grey Fox will also benefit, as long as they are heavy enough to be used for this purpose.

The luxurious Can/Am Sables have done very well at the international retail level. Inventories of dressed skins have been sold and this article has performed very well in both garments and trimming. Again, we will see price increases over last year.

Lynx Cats have done very well in retail and will enjoy a good selling season. Better coloured bellies, good quality Western skins will do exceptionally well. All in all, this has become one of the most fashionable wild furs at the high end of the fur market, used both in garments and trim. Better quality Lynx, also with clear coloured bellies, will do much better than last year.

Demand for Muskrats from China is very solid. Now that the cheaper end of the Chinese and Russian mink has been sold, Muskrats will be the first to benefit. After last year’s dismal price levels, fresh production is very low and inventories in the hands of manufacturers and dealers are also very low. This will result in demand outstripping supply and once the trade recognizes this, the prices will increase significantly. Selling later will prove to be the right policy.

Although NAFA’s Raccoon promotions with the fashion houses and leading manufacturers is creating new interest, for NAFA to sell Raccoon at satisfactory levels we will need Russia to come back into the market. There is optimism in Russia where retailers had a much better season, enhanced by the low fur garment prices and improved consumer confidence. The Russian Ruble has strengthened and is now trading 15% higher than several months ago. An anticipated improved trade relationship with Russia is already having a positive effect on the mind-sets of the Russian fur trade.

We are expecting a very limited production of Beaver, which on its own will help prices. Demand from the hatter business has grown over the last couple of years. Beaver is still used to make fashionable men’s and women’s hats. However, due to the high cost of dressing and shearing, the price for better quality Beaver is still prohibitive as it cannot compete with other furs.

All reports from China are that the female Fisher has done very well in retail and the demand for the silky female Fisher will be excellent. Continued interest from other markets for the male Fisher which can be used for trimming, will greatly improve prices as well as clearances.

Renewed interest and demand for Otter from China will result in substantial price increases over last season’s disappointing levels. In many cases this article is plucked and sheared for use in jackets. Wild mink has shown signs of improvement but is still very much reliant on improved ranch mink prices before it will begin to climb to acceptable levels.

Once the international fur markets see for themselves the short supply of this year’s crop, it will further contribute to stronger prices and market confidence.

Herman Jansen

Managing Director

2017-01-27-Wild-Fur-Market-Update-PDF

For information about NAFA’s recent Fashion and outreach events, please visit the following links:

NAFA and WFSC Present: Wild Fur Promotional Highlights 2016
http://www.nafa.ca/nafa-wfsc-present...ghlights-2016/

Theme of “Yan Sheng” Showcases Developing Talents at the 13th Annual NAFA Cup
http://fashion.nafa.ca/theme-of-yan-...nual-nafa-cup/