Finnish Fur Sales Results

[gibb]

FINNISH FUR SALES
Stock Exchange Release
22 March 2009


Dollar’s sudden drop and Russian buyers’ caution evident in fur auction


Today’s fox pelt sales at Finnish Fur Sales’ auction that opened yesterday and will close on 27 March were a disappointment, says the company’s Managing Director Pirkko Rantanen-Kervinen. The sudden sharp weakening of the US dollar right before the auction increased uncertainty in the market, and Russian buyers, who purchased 60 per cent of the fox pelts sold by the company last season, were more cautious than expected.

More than 82,000 Silver fox pelts, over 30,000 various mutation fox pelts and almost 38,000 Finnraccoon pelts were offered for sale today. Prices fell by 5 to 15 per cent over the company’s previous quotation in January. Although all the pelt types offered for sale today are widely used in fashion collections, pelt purchases are being postponed because garment orders have also been postponed. Biggest purchases were made by buyers from Turkey, Italy and Hong Kong/China.

Silver fox pelts were 80 per cent sold, and prices for the highest grade pelts decreased only by the same amount as the US dollar weakened. The selection of mutation fox pelts was around 40 per cent sold. The majority of the offering of 23,000 Golden Island fox pelts was left unsold in order to protect the price level. The offering of Finnraccoon pelts was 75 per cent sold. Detailed price information is available on the company’s website at www.ffs.fi

Finnish Fur Sales’ auction, one of the largest of the financial period that began on 1 September 2008, continues tomorrow with the sale of Blue Frost fox and Blue Shadow fox pelts. A total of 450 buyers from all market areas are attending the auction.


For further information, please contact: Päivi Mononen-Mikkilä, Director of Communications and CSR, tel. [phone]

[bobwendt]

gibb, how does this bode for the next fha sale? tim said I could put a hold on my pelts. didn`t see that it would help any. what do you think? I don`t need the money, just want to get some eventually, even years would be ok if I thought it would pay.

[gibb]

The reason I posted this is that Finland has the best ranch fox in the world for size and if they are struggling to sell this stuff the wild fox and coyotes are going to be even tougher.
I checked todays results and the sales are about the same low clearances. Knowing that the fox are used mainly for trim and that some of these ranch fox are as big as coyotes I do not think anything good will happen soon.
Just mark your bag to hold till next season and we will store in cooler. It is a gamble but I do not see anything good in the short term.
Jim

[gibb]

Uncertainty in the Russian market was reflected in the auction
23.03.2009

Finnish Fur Sales
Stock Exchange Release
23 March 2009


Uncertainty in the Russian market was reflected in the auction

The cautious approach of Russian buyers was evident in the sales results of the Finnish Fur Sales’ international auction that continued today. Of over 160,000 Blue Frost fox pelts, 40 per cent were sold, with prices dropping from the previous quotations to EUR 40.34. Last season, Russia was the most important buyer of the pelt type in question. The price was also pushed down by the supply of Blue Frost fox pelts which is too large under the current market conditions.

General uncertainty and the US dollar’s steep drop last week were reflected also in the sale of Shadow fox pelts. Of the 48,000 Blue Shadow fox pelts on offer, 80 per cent were sold, and the prices averaged EUR 42.94. The average price was 10 to 15 per cent lower than the company’s December quotation. The major buyers of the day came from Hong Kong/China, Italy and Turkey. Small amounts were also sold to the Russian market.

Finnish Fur Sales’ auction continues tomorrow with over 300,000 Blue fox pelts coming up for sale. Mink pelt sales begin tomorrow with an offering of Sapphire and Silverblue mink pelts. Over 500 customers from all market areas are attending the auction that ends on Friday.

For further information, please contact: Päivi Mononen-Mikkilä, Director of Communications and CSR, tel. [phone]

[bobwendt]

thanks gibb. got ahold of tim/alexis, if it wasn`t too late. still have a dab of castor to go on yet and guess that market is strong so will sell it whever you get the next p.t. about 6 lb.