Scanning through the recent fur auction results from North Bay, it would appear that things may be on the rebuild for the Fur Industry.
As some of you may, or may not know the bottom had fallen out of the fur industry several years ago in many areas. Fisher, Otter, Beaver, Mink and other furs were hit hard by poor demand and bitterly low average prices.
According the January 9th Auction results, however, it would appear that the market is headed for a slight rebuild. The Beaver average is up to $18.30 for the eastern section, with encouraging 100% sold. Although not huge compared to $60 averages in the beaver hay days, it is still a far cry from an early season average of around $8.
Fisher and Otter are still seeing relatively low averages ($33.50 & $40 respectively) yet are a slight improvement over previous sale.
So, what does this mean to the layman on the street?
Well, the fur auction prices are, in my opinion, a good indicator of world climate and fur industry outlook. Prices reflect world demands for different Canadian fur, so when demand is down – for a multitude of reasons – Canadian trappers and the Fur Industry as a whole certainly feel the crunch.
According to Fur Harvesters of North Bay, January’s buying strength came from China and Greece, and they expect the market will continue to strengthen as most of Europe and Asia is experiencing very cold weather, combined with the growing Chinese economy which is also driving sales!
This is all positive news for the fur industry.
The next major auction offering of wild fur at Fur Harvesters is on February 19th, and I cross my fingers that prices and interest continues to see improvement!