When ranch fur gets expensive, it is often substituted with wild fur, and wild fur prices go up. It just makes large scale production of most items much easier. That’s because if given a choice, buyers prefer the ranch product due to its large quantities of uniform goods. Their excess production continues to work through the supply chain, and there won’t be nearly as many ranch mink entering the market until a couple of years after fur prices recover.Īs a general rule, most wild fur follows ranch fur prices. After several years of rock bottom prices, mink ranchers around the world have pelted out and gone out of business over the past 2-3 years. That prediction is based on the production cycle for ranch fur and the clearing of the overproduction of fur in the market. We’ve struggled with low fur prices for a long time, but over the past few years I’ve predicted the low prices would bottom and start to rebound around 2020. That said, a savvy buyer with an appetite for risk could do quite well over the next year or two. With this option gone, the country buyers that remain won’t be willing to take on added risk, and may not pay much for fur until some market certainty returns. Keep in mind that many country fur buyers bought your fur and shipped it off to NAFA. A number of small fur buyers will still be operating and remain a good option for selling your fur. If you don’t like the price, they’ll ship it back on their dime. Groenewold Fur and Wool Company is also gearing up to take more fur, and is expanding routes into new states beyond its normal buying area. FHA is gearing up to have the capacity to take a lot of the fur that NAFA used to receive, and I’d encourage folks who haven’t shipped before to give FHA a shot. Thus NAFA won’t be accepting wild fur in 2019-2020.įur Harvesters Auction, Inc., a wild fur company first and foremost, is still in business and plans to offer a huge collection of wild fur in the coming season. That NAFA is going to be acquired, or merged, with Saga Furs, a Finnish auctionĬompany that only deals in ranched fur. Strategy of financially backing struggling mink ranchers backfired. The vast majority of NAFA’s business is in ranch mink, and their
After years of struggling with financesĪmidst rock bottom fur prices, the company dug itself a hole it couldn’t get North American Fur Auctions, the largest seller of wild fur
On the supply side, however, the entire market has been shifted upside down. The Chinese and Russian economies continue to struggle along, meaning our biggest fur buying countries just aren’t consuming much fur. The demand for raw fur remains where it’s been for years – quite low. That’s the story of the fur market heading into the 2019-2020 fur selling season. Nothing has changed, and everything’s changed. Click here for the 2020-2021 Fur Market Update.
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