December 17, 2005 - US Results

RESULTS
SALE - DECEMBER 17, 2005
US Dollars

FHA’s December 17, 2005 auction was very successful. Our attendance of buyers exceeded last December’s. Beaver, muskrat and mink realized strong increases of at least 20% over last year’s levels. Otter remains firm to last year’s levels while fisher continues to rise. The amount of interest for most all wild fur species has been remarkable. Items such as fisher, lynx, bobcat, mink, beaver and muskrat are in very high demand. The buying community is pressing our firm very hard for details on what quantities will be available for our February 2006 auction. Marten is expected to see the highest price increases of any wild item this year. As FHA’s February 2005 auction witnessed the highest averages on many species, our reputation for handling the finest northern goods from several premier jurisdictions has created an exclusive marketing edge in our shippers favour. The world’s buying power looks to the company now when pressed to fill orders on select goods such as sable, beaver, fisher, lynx, fox and wild mink. We are very optimistic that with the conclusion of our December 2005 auction and with North Bay once again setting the market first, this trend of strong prices will only continue more aggressively as the season goes on.

Eastern Part Lot Details - Top Price Select Lot $47.00 SECTION I - $27.17
BEAVER	IPTII	I&II HVY	SEMI	LT	GD SLT	SLT DGD	REG SLT	II	GD DGD	IV & DGD
0-1	--	41.00-47.00	40.00-42.00	35.00-37.00	33.00-38.00	24.00-39.00	18.50-21.00	8.00	13.50	5.00
2	--	41.00-44.00	38.00-41.00	30.00-31.00	31.00-32.00	23.00	13.00-15.50	6.00	10.50	4.50
3	--	33.00-35.00	27.00-33.00	23.00-25.00	26.00	21.00-22.00	8.00-9.50	6.00	7.50	3.00
4	--	25.00	22.00-26.00	17.00	24.00-25.00	16.50-17.00	5.00	3.00	10.00	2.00
5	--	21.00-25.00	21.00	--	19.50-20.00	9.00-10.00	--	3.00	3.00	2.00
6	--	15.00-15.50	14.50-15.50	8.00	7.00-10.00	UNSOLD	--	--	3.00	2.00
7	--	4.50	--	UNSOLD	UNSOLD	--	--	2.00	1.00-1.50	1.00

Specie	Offered	% Sold	Average	Top	Comparison to December 2004
Beaver	14,536	95%	Section 1 - $27.17 Overall - $23.05	$47.00	Up 20%
Wild Mink	2,936	100%	$18.74	$28.00	Up 28%
Sable	To be offered in February 2006
Otter	893	97%	$87.25	$135.00	Firm
Fisher	588	95%	$42.39	$48.00	Up 31%
Lynx	344	60%	$102.43	$185.00	Down 10%
Lynx Cat	823	-	-	$250.00	-
Muskrat	35,667	100%	$3.60	$6.30	Up 60%
Raccoon	94,959	25%	$14.18	$24.00	-
Coyote	5,421	95%	Western Section 1 - $35.43 Eastern Section 1 - $23.83	$49.00 $36.00	Firm
Red Fox	3,668	64%	$19.00	$38.00	Up 5%
Grey Fox	203	100%	$18.65	$26.00	Up 51%
Hair Seal	7,770	84%	$61.97	$125.00	--
Squirrel	346	82%	$1.36	$1.50	Good Demand
Weasel	1,885	100%	$2.42	$6.25	Good Demand
Ranch Blue Fox	1,134	-	$66.01	$145.00	-

FHA's next sale will be held February 20, 2006 in conjunction with American Legend.
The Last Receiving Date is January 14, 2006.

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