Looks like the marten will have another year off.

Not from me. I may not make any money on them, but my line is so expensive to run anyway, that anything less than $100.00 average doesn't cut it.
I am one that really, truly traps for "fun".
I use that term loosely, as I typically risk much, much more than even a big reward.

Not for me. If I set for wolverine it is a given that I have to try to keep marten from fouling those sets.
I have been trapping undervalued fur for years anyways. No point in stopping now!

I like that attitude Mike,lol.

All I can do is make the best of it Boco.

Yeah, what he said!

Groeny is looking into buying some Canadian fur

Yep - check their website - looking to run some routes in Canada and want feedback from Canadian trappers.

no Cites species are being accepted is his quiry,

NAFA enters Creditor Protection ( CCAA)


"November 4, 2019

Dear NAFA Customer,

On October 31, 2019, North American Fur Auctions (NAFA) sought and was granted creditor protection under the Companies’ Creditors Arrangement Act (CCAA) by the Ontario Superior Court of Justice. Although different in many technical respects, a CCAA proceeding is akin to U.S. procedure under Chapter 11 of the US Bankruptcy Code.

Companies that have filed for CCAA protection in the past include Air Canada and Stelco (the Steel Company of Canada). A CCAA Filing is NOT a bankruptcy and is NOT a receivership. NAFA management is currently operating the business.

NAFA’s tremendously difficult decision to enter into CCAA follows a number of months of struggle and hard work of trying to refinance the Company. NAFA has been unable to negotiate a final comprehensive refinancing deal, thereby leading to the CCAA protection filing.

The CCAA procedure gives us the breathing room and the operational ability that we need to decide on next steps. In the immediate future, NAFA is proceeding to complete the sale of its ranched mink loan portfolio to Saga Furs. Thereafter we intend to organize the proper and appropriate disposition or return of all furs held by NAFA and to consider future options within the context of the CCAA proceeding. At this time, it is unlikely that NAFA will conduct its own auction in March 2020 for either wild or ranched fur.

In accordance with the CCAA filing, the court-appointed monitor, Deloitte Restructuring Inc. (Deloitte), who provides oversight, will initiate a mailer to all Company creditors in the coming week. The CCAA Court order of October 31 prevents the Company from making payments to creditors that were outstanding prior to the time of filing. Depending on the outcome of the restructuring, a claims process may be administered that will address what will be paid for these pre-October 31 liabilities. There is no set timeline for this process.

If you wish to obtain more information from the Monitor, Deloitte has set up a website that makes available relevant Court documents. The address is https://www.insolvencies.deloitte.ca/en-ca/nafa. Deloitte will also be setting up a phone hotline and email address should you wish to obtain information from them directly. Both will be posted on the Monitor’s website once operational, which is expected in the next day or two.

More details will be released in the coming days and weeks. We appreciate your patience in this trying time for the company, its customers and stakeholders.


Sincerely,


Douglas Lawson
President & CEO "

So much for being a member of the wild fur shipping council. Just paid my dues out of my last sale.

So... I just went through some fo the filings, and I can find no mention of the wild fur business, or the disposition of the furs they have on hand aside from ranch mink.

The only thing I can see that alludes to the wild fur is an entry on the creditors list for "individuals" of a little over $11 Million.

The one thing that did jump out at me is an increase in the goodwill entry on their balance sheet of over 50% from 2017-18. Thats a big jump, and I think it relates to the mink farms they bought in Nova Scotia.
It looks to me like they bet big on ranch mink, and when the market price turned down they rolled snake eyes!

That said, I am not an attorney or accountant nor do I play one on TV, so who knows what my assesment is worth.
Though I have stayed at a Holiday Inn, A LOT!

One thing is for sure, I am really glad they don't have any of my fur.

If NAFA bought into mink ranches, that right there would seem dumb of NAFA. Too risky. I wonder if FHA is into mink ranches.

Arctic Raw Fur/ Bill Wivoda in Fairbanks is buying fur including Marten. 750-1952

Any idea what he’s paying for marten? Lynx?

I thought NAFA had it all figured out with their new tracking program they told us would save the industry?? I think its a bit of a conflict of interest that NAFA owned or at least had interest in fur farms but thats just me. I also think NAFA did a terrible job marketing wild fur in the last few years. Maybe thats because they were so focused on ranched fur, or maybe its because they needed new sales/PR people?? Like others have said, glad I switched to FH.

I've heard a rumour that there might be another option for trappers this winter, I guess time will tell.

The tariffs might very well be part of the reason the fur market is having issues, but trade with China needed fixing, and I believe Trump is the guy to do it.