NAFA February 2012 Fur Auction Results

North American Fur Auctions has had an exciting week of fur sales.  The good news for trappers is that the fur market appears to be up significantly.  See the press releases below for more information.

NAFA February 16, 2012 Auction Results

NAFA February 17, 2012 Auction Results

NAFA February 18, 2012 Auction Results

NAFA February 19, 2012 Auction Results

NAFA February 20, 2012 Auction Results (wild fur)

NAFA February 21, 2012 Auction Results (wild fur)

Fox Fur Prices May Encourage NWT Trappers

Recent record-high prices for fox pelts may cause more trappers in Northwest Territories (Canada) and beyond to target fox in their operations.  Here’s an excerpt from a CTV News article that reports on the high prices:

The Northwest Territories government is hoping record prices for fox fur pelts will encourage northern trappers to target the critters and keep a check on the burgeoning population.The price doubled at a recent auction in North Bay, Ont., with cross fox pelts going for $100, more than triple the average price. White fox pelts went for $200 — up from $40 in previous years.

Francois Rossouw, with the territory’s Industry Department, said that kind of price for fox is unheard of.

“We really hope the prices will get people targeting foxes,” Rossouw said. “Every community in the North has their own resident fox it seems. Instead of having problem wildlife, we would prefer to have them harvest the foxes humanely and pelt them up properly and put them into the market.”

Fur has garnered above-average prices this year compared to years past, Rossouw said. Wild fox is particularly in demand from Chinese buyers.

You can click here to read the full article.

Early 2012 Fur Market Report

Two recent fur sales gave us a great indicator of what to expect for fur prices in 2012.  On January 7th, Fur Harvesters Auction Inc. held its first fur sale of the year.  The sale went extremely well, with high averages for most species. Click here to read the FHA auction report.

Here’s a recap of the prices:

Fur Harvesters Auction, Inc.  January 7, 2012 fur sale averages:

Beaver – $7.03-33.85 (most $18.42-33.85)

Mink – $20.87

Otter – $82.15

Muskrat – $8.72

Fisher – $38.00-$57.47

Raccoon – $13.31-$18.89

Red Fox – $26.64-53.43

Grey Fox – $24.32

Skunk – $2.51

Coyote – $63.30-$68.77

Wolverine – $222.35

Wolf – $125.31-$403.94

Weasel – $3.56

Additionally, North American Fur Auctions held a private treaty fur sale on January 10, 2012 that reaffirmed the elevated fur prices.

Click here for the NAFA Report.

Here’s an overview of those results:

January 2012 Private Treaty Sale

Sale of Muskrat Exceeds Expectation
January 10, 2012

NAFA held a Private Treaty Sale over this past weekend which included nearly 100,000 fresh Muskrats as well as a selected offering of Coyotes, Beaver and Raccoon.

Muskrats sold 100% at very high prices with Section I averaging $9.03. The better qualities were sold in line with our record-breaking May 2011 sale.

Coyotes sold 100% at increased prices with a limited collection trimming coyote averaging $70.47, reflecting very strong demand from the North American trim trade.

Beavers sold 100% at sharply increased prices, reflecting a better understanding of this article from China, which now recognizes it is priced very attractively in either square centimeters or square inches. Overall Eastern larger sizes averaged $41.17 with Westerns at $37.03.

The limited offering of Raccoon was not large enough to attract sufficient buying power and was mostly withdrawn. To achieve success, this article needs a larger attendance and more participation from major overseas markets, which will be well represented in our February auction.

NAFA’s senior management is currently travelling to the major international markets and we are expecting a very large attendance for our February sale.

Market for Muskrats Gains Attention

The Wall Street Journal just posted an interesting article on the recent rise in demand and prices for muskrat furs.  They took the time to interview several trappers and relay their thoughts on the muskrat market, as well as the fur market in general.

The North American muskrat market has been booming, thanks to soaring purchases by Chinese and other newly rich nations that need muskrat fur to line coats and footwear.

Joel Millman/The Wall Street JournalTrappers Dennis Gast and Alan Kamarainen examine an otter skin.

Specifically, they want muskrat bellies, the felt-like fur that is practically impermeable to moisture. At $10 per pelt—five times what muskrats fetched in the 1990s—pelts were trading at new highs when bidding for last season’s furs ended in June.

But some in the belly trade are casting worried glances at Europe, where fur sales are expected to be soft this winter. That could drag prices down for trappers here, and the current muskrat mania could prove to be a belly flop.

Click here to read the full article.

2011 Western States Fur Auction Brings Positive Results

The Montana Trappers Association held the Western States Fur Auction in Columbus, Montana this past weekend with extremely positive results.  The quantity of fur brought in for sale this year was much greater than that of the past two years, and almost everything sold at or near 100%.  Rumor has it that availability of fur in the country is down, leading to high demand.  Obviously, more folks elected to bring their furs to the WSFA this year in anticipation of better fur prices.

All fur was brought in before the deadline of noontime Saturday, and over half a dozen fur buyers made their way along the crowded tables in the fairgrounds building, inspecting and evaluating the quality of the hundreds of lots of fur.  The sale was done via silent auction and buyers’ bids were due by 5pm on Saturday.

After the bids were tabulated, sheets of paper with individual results were placed on several tables for trappers to examine the prices bid for their furs.  Like the others, I made my way through the small crowd to to see how my furs did.  All I can say is that I was VERY pleasantly surprised by the numbers.  Trappers were smiling all around.

Here’s a quick recap:

Coyotes were a hot selling item.  621 coyotes were offered, and 578 sold, at an average of $44.83.  It appears that the early demand for coyotes seen at the NAFA auction has continued.

Bobcats sold at 100% of the 132 offered, at an average of $572.21.  Looks like cat prices are back to the high levels of a couple years ago.

Muskrat averaged $5.28, which isn’t bad for western ‘rats.  Only a couple hundred were offered, and some appeared to be freezer ‘rats.  Mine were fresh and averaged over $6.25.

Raccoon (231 offered) averaged $18.92.

Marten averaged $35.85.  Some folks commented that this was a little lower than they’d received at NAFA.

Beaver averaged $14.41.  This item is still lagging.  Not many were offered, as I suspect people trapped very few beaver for fur this year.  I put a couple of large beaver in the sale that averaged $22.50.

Here are the rest of the averages:

Badger – $25.50

Red Fox – $31.22

Mink – $11.90

Otter – $46.63

Skunk – $7.80

Ermine – $2.31

Porcupine guard hair – $22.82

Beaver castor – $44.23

Winter 2011 Fur Market Report

The January fur sales at Fur Harvesters Auctions and North American Fur Auctions are completed and have provided valuable information going forward in this year’s fur market.

FHA held the first major auction of the year on January 7.  Prices were encouraging for most items, but the majority did not sell at 100%.

The hottest items at the FHA sale appeared to be bobcat (lynx cat), which sold at only 42%, but on averages of over $500, and coyote, selling at 50-86% and prices of $31-39.

Raccoons averaged $13-17.  Mink were $12 and otter $42.  Red fox was highly variable ($13-28).

The major disappointments of this sale were beaver and muskrat.  Beaver sold at 49-77% and prices of $10-20 on average.  Many of these are northern beaver pelts that sold for more than double these prices several years ago.  Beaver prices have been lagging and don’t look good going forward.

Muskrat prices were influenced by the lack of buyers from the Chinese market, which typically drives this item.  Muskrat sold at levels of 66-100% and averages of $5.90-7.49.  While these prices are much higher than just a couple of years ago, they represent a decline from the last auction, and indicate hesitant buyers.

Just two days after the FHA sale, North American Fur Auctions held its second annual internet auction.  This auction was started as an alternative to an on-site January sale that didn’t receive lots of demand.

As a result of the lower muskrat prices at the FHA sale, offers for muskrats at NAFA were relatively weak.  Given this, NAFA decided to withdraw the entire offering of over 104,000 muskrats and try selling them at the February auction.  NAFA is confident that this strategy will pay off in higher muskrat prices in the coming weeks.

Beaver sold better at NAFA, averaging around $21-27.  Most sold.

Raccoon sold at $14-21, at about 75% clearance.

Coyote seemed to be the real winner at this auction, selling 100% at averages of $22-51.  The western/heavy coyote pelts were the biggest surprise, averaging $51.21.  Canadian demand is driving this market.

The first two auctions of the year may have raised more questions than answers.  Will muskrat prices continue on their recent highs?  Will the improved coyote market continue?  Will beaver prices ever make a comeback?

You can click on the links below for detailed price reports:

FHA January 2011 Fur Sale

NAFA January 2011 Fur Sale

Stay tuned for the February auctions for more details on the 2011 fur market.

2010 Fur Market Forecast

This fall, cautious optimism is the key phrase when talking about the fur market.  Discussion has surrounded the increase in demand and recovering Chinese and Russian markets, but there seem to be more questions than answers.  After looking over fur market reports from the major players, I’ve put together a quick summary of what we might expect to see for fur prices this year.  I’ve also provided links to the different fur market reports so that you can read them for yourself.

Overall feelings about the fur market tend to be a mixture of uncertainty and positive expectations.  No one is really negative about the market, which is surprising considering how poorly things finished up last season.  Among the uncertainty is a glimmer of hope that increasing demand will drive higher prices.  So we’re probably looking at two possibilities: 1) the fur market stays the same as last year and prices continue to stay low, or 2) the recovering world economy drives more demand and prices climb.  While uncertainty abounds, nobody is expecting the market to drop substantially.

Here are some predictions for several species:

Muskrat – Expect excellent demand for muskrat early in the season.  This item sold out last year and should sell at good prices early.  Prices of $5-8 could be expected.  Demand could soften later in the year so folks are advising that you sell your muskrats early.  This could be one of the few real bright spots in this year’s fur market.

Mink – Ranch mink has been selling really well lately, with high demand and solid prices.  This is expected to help the wild mink market and good prices are expected.  Prices should be on par with last year, maybe higher.

Beaver – This item sold pretty poorly last year, and unfortunately, expectations for this year aren’t any better.  There are lots of holdover beaver pelts that went unsold, and demand is not expected to increase.  It may be smart to spend less time trapping beaver this year, or hold on to your furs until demand comes back.

Raccoon – Prices for the larger and heavy raccoon skins should be okay, and $8-10, perhaps upwards of $20, can be expected for these.  However, the smaller and flatter coon skins will be almost worthless.  The raccoon market has fluctuated substantially over the years, and a cold winter combined with increased Russian buying power could help things.  Demand is expected to pick up later in the season if the remaining unsold goods are cleared.

Otter – The slow recovery of the otter market after the crash several years ago is expected to continue, but it will be slow.  Expect some advances, with prices of $25-45, and prices greater than $50 for some skins.

Coyote – Not all of last year’s coyotes at the auction houses sold.  Unfortunately, the unsold goods were the semi-heavies and lower grades.  These goods will not sell well this year.  The big, heavy prairie coyotes sold out last year and should do well, with prices upwards of $30 or better.

Red Fox – Prices of ranch fox have been advancing, and wild red fox is expected to sell well.  $15-30 may be expected for better goods.

Bobcat/Lynx – Increased demand for bobcats is expected this year, which should result in higher prices.  Similar to last year, well spotted western bobcats could average over $300 in some situations.

Marten – While many of the larger Canadian and Alaskan marten did not sell last year, increased demand is expected and prices should be okay.

Fisher – Increased demand should drive higher prices for this item.

Grey Fox – This item continues to struggle.  None of the experts see a recovery in grey fox prices anytime soon.

As you can see, this year’s fur market forecast includes a huge variation in prices among different species, and lots of uncertainty.  As usual, time will tell.  The North American Fur Auctions and Fur Harvesters Auction February auctions should give us a much better idea of where the market stands.  You can learn more by reading the full reports from these organizations below:

NAFA 2010 Wild Fur Forecast

FHA 2010/2011 Wild Fur Forecast

You can also read market reports from Trapper and Predator Caller magazine and Fur-Fish-Game.

NAFA May Fur Auction Results Somewhat Disappointing

It appears that the fur market is not out of the woods yet.  After a surprising spring recovery of fur prices that had been severely depressed for some time, many trappers had high expectations for the May fur sale.  Unfortunately, the high March prices were not repeated in May.

Here’s a link to the results.

Overall, prices weren’t terrible, but did not continue the uptrend started in March.  Almost all items sold at lower levels than in March, with only muskrat, wild mink and lynx selling 100% of the quantity offered.

Here’s NAFA’s report:

Report on May Wild Fur Sale
Wild Fur met with selective demand and prices declined from March levels on the opening day of the
NAFA Wild Fur sale.

The sale began Wednesday with a large offering of Beaver of which 80% of the sundry owner sold at generally lower levels than March. Otters sold 92% while Muskrat and Wild Mink sold 100%, again at lower levels than March. China and Hong Kong dominated the sale.

Sables and Fishers were disappointing in both percentage of sale and price levels. Sables sold 62% with better qualities, large sizes withdrawn, while Fishers sold 35%.

Raccoons sold 75%, primarily to Hong Kong/China. Brown colours were mostly withdrawn, while better colours sold 100%, at easier levels than March.

Day two of the sale had a more positive result with Lynx Cats selling 85% of the sundry owners under very strong competition, with Greece the major buyer. Lynx sold 100% at newly established levels to Russia and Greece.

Coyotes sold 70% with heavy Coyotes for trimming selling 95% under strong competition. Flatter commercial goods were mostly withdrawn.

Red Fox sold 75% with good interest in the heavier types.

Here are a few of the approximate overall averages:

Beaver: $7-15, Otter: $19-45, Muskrat: $2.66-7.47, Mink: $13, Marten: $21-49, Fisher: $56, Raccoon: $3-15, Lynx: $25-88, Bobcat: $27-273, Coyote: $4-32, Red Fox: $17, Badger: $22.

For more specific averages based on area and size, and other species averages, click here to see the full NAFA Report.

These results indicate that the fur market may remain in a depressed state for some time, particularly as European economic concerns keep fur buyers from acting too enthusiastically.  Many of the transactions at the NAFA sale took place via private treaty after not meeting the minimum prices set at the auction, indicating low overall demand.

Still, prices for many items are much better than what we were seeing last fall.  The fur market will recover, the only question is how long it will take.

Trapper and Predator Caller Fur Market Report

Click here to read Parker Dozhier’s latest fur market report (April 14, 2010) at the Trapper and Predator Caller’s website.

NAFA Posts Promising Results From March 2010 Fur Sale

The March 2010 fur sale at North American Fur Auctions reaffirmed feelings in the industry that the fur market was experiencing a serious comeback.  Prices advanced significantly, and most items sold at or near 100% clearance.

Click here to see the March 2010 NAFA Fur Sale Results.

The next NAFA auction will be on May 23-29, 2010.