I enjoyed reading the following up as well as the initial write-up. I tend to think the business has bottomed and market will improve or else there will be a further pelt out by farmers in the near future. Farmers have incurred losses for several consecutive years and may be reaching a decision point to retire or stay in the business a while longer. Being the only auction house remaining is a huge advantage for Saga's scale and profitability, but it works only if there is sufficient skin volume to trade. I'm keen to see if pelt prices rise at the next auctions and the resulting volumes. Good work on this.
Thanks for the update. Loved the initial write-up. So 10 years ago, about 90 million mink skins were produced to about 15 million in 2023. Is there a chance for a recovery in the market, or is this a declining market where saga furs takes market share?
Great stuff, are you still invested in any special situations in Germany?
Love this write up, such an interesting company. Is there anyway to trade this in the U.S?
I enjoyed reading the following up as well as the initial write-up. I tend to think the business has bottomed and market will improve or else there will be a further pelt out by farmers in the near future. Farmers have incurred losses for several consecutive years and may be reaching a decision point to retire or stay in the business a while longer. Being the only auction house remaining is a huge advantage for Saga's scale and profitability, but it works only if there is sufficient skin volume to trade. I'm keen to see if pelt prices rise at the next auctions and the resulting volumes. Good work on this.
Thanks for the update. Loved the initial write-up. So 10 years ago, about 90 million mink skins were produced to about 15 million in 2023. Is there a chance for a recovery in the market, or is this a declining market where saga furs takes market share?