Economic Study for Profitability of Fur Trapping

I did a comprehensive two year economic study on the profitability of Ohio raccoon trapping in a $3 XXL pelt market. The result is a loss of $5 per raccoon pelt sold. Therefore, a full-time trapper would need to catch a truckload to make a good living. The study was paid for by a grant from a private foundation.

I have rehired the same grant application firm to apply for a one year grant extension to evaluate the profitability of alternative furbearers by running a double blind placebo comparison. In my supplemental application, I have assured the patron foundation that the results may change the economic outlook and viability of full time trapping for alternative furbearer species. If so, there could be an astounding number of jobs created on local, state, and federal levels.

So far, I am pleased to report exciting, although limited, findings which appear to possibly indicate that expansion could be either linear or exponential. Copies of the preliminary findings can be ordered for $99 plus $10 for shipping.

On the other hand, in the month of October 2018 many high level mutual funds lost 6% of their value. Stock in the Ruger company (RGR) lost 8% of its value in that same month. $66 per share down to $56 per share. Fortunately, my Ruger guns still shoot fine and the stocks have not shrunk.

I am retired and rely on multiple income streams picking up nightcrawlers, picking up cans along the road, and picking blackberries and morel mushrooms. I just finished my 2018 last quarter and year end total financial analysis. These high cash flow occupations grossed more than $10 for 2018. Add in values for unsold pelts from fur trapping and I may gross close to $50!

Fur trapping in Ohio is not profitable. Even if all gear and equipment including an ATV, side by side, vehicle, and trailer were given to the trapper. Still not profitable based upon actual costs, without any wages for the trapper.

So why do it? Fun, adventure, excitement, to appreciate God’s natural world, to pass on the old ways to a younger generation, etc. I know a teenager who I mentor and sponsor. I teach him trapping and give him equipment - but not the truck, atv, or side by side. He gives me appreciation, gratitude, photos of his adventures, and best of all - hope for the future.

It has been rough lately, but in the downturn the fur market was good enough to make some real money.

When the market is what it is today, if you aren’t an ADC trapper you best be trapping for the fun!

According to your numbers, you must have access to some good land and good skills.

Wow, only one person has a sense of humor!

I trap because I enjoy it, love being outdoors in the winter and it's great exercise.
It's a win - win for me, regardless of the fur prices.
However - it would be nice to see those prices climb up to some level to offset the expense of being out every day and burning fuel.

Willy -

I've found it best to trap hard when the prices are low, and make up for it in volume. The more I catch, the deeper I go in debt. Great fun!

Jack

The one advantage that all trappers would find by keeping good records and filling out a Schedule C is how very difficult it is to make a net profit trapping furbearers for fur income. They don't need to file them just fill in the blanks with the allowable mileage and expenses. to see just how difficult by accounting practices to show a profit even when prices are decent.

Bryce

I wish Paul would set up forum for the few of us that trap for the fur sales for part of our living. Of course, it would be a real lonely place right now. I never find it funny when I can't earn decent money trapping for fur.

Sorry, I can't relate to this fun trapping that people talk about on here.

I hope no one finds out what I spent on trapping over the years, I don't want to know either

I don't hunt outside of a couple days for deer don't ski,golf or fish so compared to those other sports im probably not out all that much

I been trapping for 45 yrs and I'm not any broker now than I was when I started.

I like that way of thinking

Finally some folks with some zip and a sense of humor.

Shawnee - trapping is good exercise in the great outdoors. It is nice to get some return on the effort.

Jack - for sheer numbers, trapping when prices are low can produce higher catches. I’m glad you joined in to play along. Some folks don’t like to think that if you lose $5 per raccoon pelt sold, when you sell a truckload of pelts you lose a truckload of $5 bills.

Bryce - I agree completely that every trapper should consider what it honestly costs to trap animals. The true, accurate, honest, complete numbers are astounding. Buying gear at today’s prices, paying for a vehicle and fuel and insurance and other overhead, then selling fur at today’s prices is not a good business plan. However, there are a multitude of other reasons why people trap that make it worthwhile. For some of us the fast cars and beautiful women are enough to make it worthwhile. When fur prices are slightly decent and there are country buyers, a guy can set some traps locally, put up the fur in the garage, sell locally, and have some return to offset the expenses.

Back in 1980 catching 3-5 foxes per morning at $100 each while paying about 52 cents a gallon for gasoline was quite a different economy!

Dirt - If it isn’t so much fun, trapping could be considered very hard work.

Jeff - it is amazing how we subsidize the fur industry with our donations.

Gary - you are ahead of me by 2 years. Long ago breaking even was easier. These days it is just more complicated to break even.

I just went outside to get something off the porch and an $8 red fox was in the yard and barked at me. It trotted off into the darkness and I lost another $8. It sure was worth it!

I think I have made money every year I have trapped dating back to the early 70's. And I do a schedule "C" every year. But lately the profits have been mighty slim.

Willy,
I figured out long ago how to make a million dollars trapping....... pretty simple really, you just start with two!! ; )

beaver - it is possible with the right land, skills, and management. You are wise to make it work that way.

Trapped - You bet!

$.535/mile. How many miles is your trapline?

2X

If I were to not claim mileage, the cost of equipment, the cost of bait collection (fishing, pocket gopher trapping, etc), and all activities surrounding actual catching, it would be classed as a hobby. The IRS doesn’t like hobbies like trapping treated like businesses because a very high % of Trappers don’t make enough $$ to be considered income. At least that is what my tax preparer and a lawyer friend told me. Showing a loss every year gets your taxes on the list of those to be audited. Now, I call it what it is: a hobby. If I make >$600 a year at it, from one source, I claim it as income. If not, it goes into Christmas presents and that makes me happy.

I did not suggest that everyone should know all the allowable and or real costs and then decide to quit trapping. Most of us trap knowing those realities. What it does do is add some reality in my mind regarding these types of discussions about why I trap, what do I make or I always make money etc. etc. We have to remember that tax rules and codes are made so that those running very profitable businesses can deduct significant costs to lower taxable income and fur trapping by nature is not one of them. If I stayed home and bought 2,000 rats at $2.50 each and sold them for $3.00 each I probably would pay more taxes then if I drove to several marshes and caught the 2,000 rats that were worth $2.50. Little to no travel, no gear etc. etc.

How much money did ya'll make duck hunting last year?

I disagree that it is hard to make a net profit. 1 dollar is a profit. It is hard to make decent wages at today's prices with a few exceptions in many places. The biggest reason people don't make a net profit is that is not their goal.