Saga Furs auction, which was arranged in an unstable market situation, concluded today. The mink sale achieved high clearances and was followed by a fox sale with 706,000 fox pelts on offer. The foxes were 20% sold and the Finnraccoons over 30% sold. In total, the value of Saga Furs brokered pelts in September auction achieved last year’s level.
There is now exceptionally high uncertainty in consumer demand. Due to the coronavirus pandemic the fashion industry in the main markets wasn´t able to design and produce new collections during the spring. This affected especially on the demand for fox pelts, because fox pelts are often used as trimming and can be easily left out from the collections. This resulted in low demand for fox pelts at the auction.
”There is currently little demand for fox skins, unlike for mink skins, which are used to produce garments. We sold a record number of mink pelts and over half of them have already been shipped to the customers. Pelts are now bought for immediate need, not for the stock,” says Magnus Ljung, CEO of Saga Furs.