On May 1, 2026, the latest trading conditions of the domestic cashmere market were released, showing an obvious structural differentiation overall. The country's core cashmere production areas such as Chifeng and Qinghe have fully resumed work and production, the operating rate of intelligent spinning production lines has steadily rebounded, and the industry's processing capacity has maintained a high level of operation.
However, the contradiction between supply and demand of raw materials is still prominent. Affected by the strict control of pasture ecology and the continued decline of goat breeding stock, the overall cashmere production in the country will be significantly reduced in 2026. Among them, the supply of ultra-fine high-end plush-free velvet below 14.5μm is extremely scarce. The spot circulation in the market is tight and it is difficult to find a single product. The price maintains a strong upward trend. The price of velvet in major producing areas such as Shanxi Kelan has reached 115 yuan/jin, continuing to rise month-on-month; the unit price of domestic high-end plush-free velvet market has exceeded one million yuan per ton, a year-on-year increase of more than 15%.
Looking at regular cashmere above 15.5μm, the market supply is sufficient, the market trend is stable, and the price difference with high-end fine cashmere continues to widen. The scarcity of high-end cashmere sources has become a long-term trend, which has also laid a solid cost support foundation for high-quality cashmere yarn and high-end knitted apparel.