Otter Pelt Prices Take Beating In Fur Sale

Otter Pelt Prices Take Beating In Fur Sale

Wednesday, February 21, 2007 at 14:19

 

 

An official with North American Fur Auctions says otter pelts had a rough outing last week at the company’s most recent fur sale.

 

Dave Bewick estimates prices were down 50-60%, despite the fact they nearly sold out.

 

He explains the reason for the decrease is mainly due to the Chinese withdrawal from the otter market.

 

Bewick notes new buyers from Turkey, Russia and Eastern Europe have stepped forward, and he’s optimistic the situation will slowly turn itself around.

 

He says, at the very least, they’ve now established what kind of demand there is for otter pelts with China out of the picture.

 

Bewick says another reason for the low prices was the fact there is so much inventory left over from last year.

 

According to the company’s latest report, otters went for an average price of $55.70 a pelt.

 

NAFA is also reporting price decreases for beaver and muskrat pelts.