Fur Market Update: NAFA January Sale Dismal

Results are in from yesterday’s NAFA auction, the first major fur auction of the year, and an important indicator of future market conditions.

Overall, prices were low and only the best items sold.  Most sections of fur did not sell anywhere near 100%, and NAFA held on to a lot of fur in hopes of getting better prices for it in February’s auction.

Four species were offered for sale: raccoon, beaver, coyote, and muskrat.  All sections of raccoon and coyote sold at levels less than 50%, and beaver sold at extremely low levels as well.  Muskrat sold okay, but at low relative prices, and western ‘rats only sold at 60%.

It appears that warm weather in eastern Europe, combined with a slowing global economy, is beginning to have its impact on the fur market.  Few buyers were present at the auction, and activity was discouraging.  NAFA ended up holding a lot of fur for the next auction, but in February, don’t expect the same holding policy to take place.  In February’s auction, NAFA will likely sell everything, with no minimum price, which will give us a much better idea of the actual value of all sections of fur.

Around the U.S., many fur buyers are on hold, not accepting any more fur until market conditions change.  I’ve heard word that local fur auctions in Oregon and Nevada have been cancelled or delayed.

The fur market is in a bit of a slump, but certainly isn’t dead.  There is still a demand for wild fur, and many buyers are still in the market.  The Montana Trappers Association is still holding a fur auction in Columbus, Montana this weekend, and expects a decent turnout from fur buyers from a number of different states.  I’ll be sure to post results from this and other auctions as they become available.

Click here to see the NAFA January Auction Results.