Has the fur market bottomed out? It’s tough to say, but it’s also hard to imagine prices could get any lower.
The major spring fur auctions brought very disappointing results. Here’s a recap of average fur prices from North American Fur Auctions:
Muskrat – $2.65
Otter – $21.34
Mink – $7.95
Coyote – $6 – $68 (Easterns $30, Westerns $68
Raccoon – $2 – $6 (no, that’s not a typo!)
Beaver – $8 (again, not a typo 🙁 )
Red Fox – $14
Bobcat – (Eastern $40, Western $260)
Raccoon and beaver make up a great deal of the market for utility furs, and prices as low as this are tough to swallow. Oil prices continue to be low, the Russian and Chinese economies continue to struggle, and that means we’re probably in for another season of low fur prices.
It’s obvious that the price of most furs has dipped below the cost of production, and the recreational and wildlife management elements of trapping are what’s keeping the supply level up. Demand continues to be low, but fur prices will come back. Just don’t plan on making much money trapping this fall.