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Velvet price trends
Velvet marketers report a slowing down of buying interest since Xmas as the Chinese customers have got very particular about what grades they are going to purchase. They continue to dominate the market and historical Korean participation is being slowly replaced with Chinese buyers who purchase green and dry cheaply back on their home shores. Quality concerns remain about the trophy influence in heads but as yet the market discount is not severe enough for style changes to be made at the farm gate.
Stability rules the prices and market and although at present there appears little upside farmers will be content compared to other livestock prices they are recieving. Good industry pricing disciplines are evident as exporters report stocks are at comfortable levels and they are hopeful of clearing all stock by the new seasons start.
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