By: Bears Butt
Ok trappers, listen up. What in the world is going on here? Earlier this year (January) muskrat auction houses were buying muskrat pelts for over $10 each. Even going so far as buying badly damaged goods saying there were plenty of low paid folks in the business that could repair the damage via sewing.
We also heard of the bellies of these lowly critters being more sought after than the backs, which goes against all us trappers have been used to for decades.
So, here come the country buyers and scarf up our rats at ridiculously high prices (you have read my account on here), in hopes of cashing in on the Chinese, Greek, or whoever market.
For those who may not know, we American trappers catch a lot of muskrats and those little critters are prized for their color, feel etc once they are tanned and made into garments. (By garments I’m talking about coats, neck scarfs and assorted other outer wear to shield the wearer against the cold, not some underwear worn by a religious group. I’ll just bet garments made of muskrat would be really warm to one of them however).
The makers of the garments are usually the Greeks or the Chinese. They seem to have the biggest demand for our raw furs. And so they buy them up by the millions and tan them. Suddenly we find our little furs buried deep in a shop making coats or gloves or scarves or boot linings or whatever they are making. And those little furs look good! And they place those collected and sewn furs on very good looking models and they swagger all over looking better than ever.
The models wink at the right people and those people bid on the end result, the coat, the hat, the boots or whatever. I think some of the buyers think that if they bid high enough the model will take off the clothing and they will see something more to their liking. But I digress.
So, who are these end product buyers? Russians mostly! It’s WAYYYY cold in Russia and so they wear a LOT of fur clothing (maybe even some garments).
Now here is the rub for me. January raw fur prices were over $10 for muskrat. February fur prices pushing $11 and more. Where will it end? Could our catch be worth over $10 at our level in the chain when we sell in March? We hope! How much will the guy make that buys our catch? He is speculating just like us. If he buys low and sells high, he makes a ton of money and is a happy camper. The market looks very good for this to happen.
So, as we are all dreaming of cashing in on a fat cow, China and Russia are talking. Not about fur prices or anything like that. They are talking about the price of oil. Russia has a lot of underground oil and gas reserves and China would like to tap into that reserve and buy it from them. Which would lessen their need to depend so much on the Arabian oil we all so much seem to need.
Did I know that as a fur trapper? Heck no! Why would I care about such as that?
Did the buyer of my fur care about that? Heck no! Why would he care about such as that? What does that have anything to do with a Russian lady wanting to buy a very nice looking fur coat from a Chinese guy?
WOOPS! There is the key! TRADE RELATIONS! The Russians want more for their oil and gas than the Chinese think they should pay for it and so the talks were thwarted and the Chinese guys all went home in a stew and the Russians had another glass of vodka.
And so, at the latest and greatest auction in Canada, the ONE everyone watches for the end sale on wild fur, one called the North American Fur Auction (NAFA), the BOTTOM FELL OUT OF THE WILD FUR prices! And I’m telling you the BOTTOM FELL OUT! Period!
I’m not just talking about muskrat prices, I’m talking about Bobcat and Coyote too. Everything that was trapped and had a good fur on it tanked!
So, speculator guy who bought our muskrat fur for “$ a.lot” most likely lost his butt…Sorry! This is one time the trapper didn’t get trapped.
Look at these sale prices (thanks NAFA):
Bobcat pelts sold 100% at averages of $68 – $380, with the top fur bringing $1,275.
Lynx sold 100% with an average price of $123 and a top of $340.
Marten sold 100%, averaging $46 – $128.
Red Fox sold near 100%, averaging $39.
Grey Fox sold 100%, averaging $26.
A smaller percentage of fisher pelts sold, but the ones that did sell averaged $68 – 80.
Coyotes sold at decent levels (74-87%) with an average of $21 – $51.
Raccoon pelts sold at varying levels with prices from $3 – $19.
Mink sold 100% with a $21 average
Otter sold at 50%, averaging $70. Some were held back due to price resistance.
Beaver cleared at lower levels and averaged $9 – $32.
Muskrat sold at 80% and averaged $8.10.
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OUCH! Those prices are WAY BELOW the prices everyone was expecting.
I heard some local buyers were buying coyote hides for over $25. Imagine you buying a hide for $25 and then getting $21 for it. That’s a $4 loss. And then imagine yourself buying 1,000 of them at that price! You just lost $4,000!
It makes me cringe just to think of it.
Well, am I going to put my traps out next year? YES! Do I expect over $8 for my rats? Nope! UNLESS China and Russia make some sort of deal on gas and oil and then, maybe just then we could see a rebound on fur prices.
I can say for sure, I’m very glad I did not pull my 401K out and buy my friends collection of rats, but rather talked him into putting his in with ours for our sale to the local guy.
Well, enough of this for now. We have traps to mend, stakes to cut and bait to cut. I sure hope those Chinese folks get a good deal on some Russian oil reserves.
Bears Butt
June 6, 2012