When a climber falls, he can generate huge forces.
Much higher than any almost any animal can make, just by pulling.
When your life is on the line, equipment can have as high as a 3500 pound tensile strength. (*But some sketchy little pieces might only rate to 500 or so, so you do every thing you can not to fall on them).
It's not exact math, but you generate about one times your body weight in force, for every foot you fall. Up to about 85 feet, then it starts to level off as you reach terminal velocity.
Falling just a couple body lengths, I could snap the loop off a 3/32 snare cable like a shoelace.
We did some testing of hammered ferrules, and swedged ferrules, on 3/8th cable, with loops, circles, and "dead" ends. (*At a major climbing gear company's high tech "torture chamber")
The swedged ferrules had nearly 20% more strength than the hammered ferrules.
All of which far exceeded the amount of force my body could generate or handle.
In trapping, even the hammered ferrules and nuts, should be more than sufficient.
Fish,
I read that the threads inside the nut can be detrimental. Some people advocate running a drill, or a round file through, to take the "bite" out of it.
They can cut into some strands of the cable, weakening it at the point to which most of the forces are transfered.
Krusty

P.S. If I'd known about using machine nuts back then, we would have tested them too.
If I had to use the 200 ton press to get 'em flat, I woulda!
We had a saying at the lab, "One good test, is worth a thousand theories."