If I was a banker, I couldn't loan money for fur speculation. All the really big money comes from lenders. That's what happens even if your company is 350 years old. You would have to convince me you could double your money quickly. If you hold fur fine, but your paying interest. Even if you are setting flush with cash I believe I'd put it somewhere else. This is a depression.

In this market I doubt any buyer paying $3-$8 for grease coons depending upon size and grade will make much profit. If there was a huge way to profit from buying low priced wild mink, coons, rats and reds there would be more interest in buying that fur. If a buyer works on a 15% mark up on say average plus markets like $12 coons or $5 average rats, what do the need to get for a margin when rats are $2.50 and coons $6 to get similar dollars for their operation? I am not saying 15% is the correct number but it demonstrates that buyers really need to buy very low or profit less or a combination of both.

Bryce

If I was a banker, I couldn't loan money for fur speculation. All the really big money comes from lenders. That's what happens even if your company is 350 years old. You would have to convince me you could double your money quickly. If you hold fur fine, but your paying interest. Even if you are setting flush with cash I believe I'd put it somewhere else. This is a depression.

Mind telling the breakdowns on what you sold? Might check them out next go around.

I thought NAFA was back on their feet

You trap or you don't, you keep it sell it or tan it.

I apologize for multiple replies on one thread. I have a phone way out in the boonies. I'm also new to site. When I post a reply, many times it says I'm offline. Maybe one day wi-fi will be available.

NAFA going through the American equivalent of bankruptcy. Lender (s) will try to recover their money by selling NAFA s assets. In my opinion, all the fur they have will be dumped on the market making things worse. Does anyone have fur up there? Well its gone! If you can sell your fur, do so. Don't send it off. Let someone else worry.
It's my understanding that they are out of wild fur business. Google NAFA. .

The courts have ruled that any fur in the possession of NAFA belongs to the shippers. That fur does not belong to NAFA and can not be sold to pay NAFA’s debts.

Most of the dealer lots have been removed from NAFA to be sold elsewhere. The part lots will be sold at a later date. The money from the sale of those goods will go to the shippers. The commissions collected will go to the banks to settle NAFA debts.

I have not heard how the bad checks will be handled but I’m sure the trustee and courts are aware they exist and need to be dealt with at some point.

we heard ya.

On the other hand buying fur in a depressed market with little competition provides the opportunity to pick up large volumes of low cost fur. I think you may be underestimating the margin on these low cost goods. If you can buy coon for 2 bucks and sell for 4 that is a 100% return on investment. You still only made 2 bucks, but when you do it thousands of times it starts to add up.

Kind of explains why a furbuyer would be pushing coons for liners.

If your business needs to earn say $40 K over costs to run, how many more do you need to buy and sell when markets are low and with low prices comes lower harvests which compounds the problem of trying to make enough money to keep a major business venture going. There may be more of those doing a few thousand per year as a sideline in a few years. Right now many are just waiting, trappers, future buyers etc. trying to figure out how much longer the lower prices and lower demands for most fur will last. Many have waited out cycles in the past, but when we see a significant paradigm shift it takes more time and probably a lot of different players or players that make some significant changes. Some of which are occurring right now. SAGA becoming the major if not the only large ranch mink auction firm other than China, GFW, and FHA expanding their services to help producers find markets etc.

Bryce

Wonder who THAT could be..........LMAO !!!!

w

Dont blame it on NAFAs problems. Its called a free market. Thousands of people gave them their fur for nothing in the best years. Now they are somehow wrong or taking advantage???

Groeney is running a business not a charity. They have been taking advantage of the mentally challenged for years and nobody cared.

Here here!

Agreed.

Throw a little more salt in some wounds. by bringing this back up BUTT...

Hope you guys have seen some of the western coyote prices paid from Prince Albert Sask. and near Saskatoon Sk.

And those were for Grade 1-11 and were not the real prime furs that are coming on now.

Once burnt, twice shy..........cash in hand and few are sending to gamble in another auction regardless of who is running it.
There is still a pile of advances to trappers charging up interest for fur held for a better price. The same sernaio occure in the collapse years back.
Thompson Tables are on Friday and Sat for the northern trappers to have a barometer to guage.

Not sure how we would see these prices unless someone is willing to share what they know.

Was posted over on Chat line on the coyote thread and other forums but a certain moderator has banned that poster on this forum.

But does it really matter, most guys don't know what a good western coyote looks like let alone a eastern dawg.