by Parker Dozhier, T&PC contributor
Editor’s Note: This is only an abridged version of a larger report about fur market prices. Click here to subscribe to the magazine and read the latest market news.
Our fur markets are now and have always been subject to the ebbs and flows of the economy. Things can change overnight…and they often do. In the current global economy, the impact can be sudden and severe.
Three months ago, optimism among trappers and country fur buyers was apparent. The shelves were bare, the demand was growing and the production of ranch and wild fur appeared to be about on par with the increasing consumption.
While the prevailing prices of some of our wild furs were less than we would have liked to see, at least the goods were selling. In fact, select goods were witnessing significant advances. This was certainly the case with the better coyote, bocats and marten headed into the luxury markets.
There have been times when that was not the case. We should never forget; “Furs, like diamonds, are only worth what a willing buyer will pay.” There have been periods when we had no willing buyers, at any price.
Then a month later, things begin to go south. Due to an economic global downturn, we hit an atmosphere of uncertainty.
Th ose of you who have been harvesting and selling wild furs for 35 years lived through this same type of environment. The Fur Boom was just underway, but then we saw gas prices spike, then shortages and even rationing. Interest rates were in the double digits. Unemployment soared. The future was uncertain.
We’ve seen this movie before.
Our fur trade? It just kept getting better.