Yellowknife (Feb 27/06) - Trappers in the NWT have a good reason to go out and set their snares and traps, with prices for many pelts hitting new highs.

"There's money just sitting out there in the bush," said Francois Rossouw, the fur management official for the NWT government.

Record prices were paid for NWT marten, which averaged $115.55, with top specimens fetching $233.70. Lynx from North of 60 also set a new high average price at $173.

Wild mink also did well, with a $29.07 average, as did fisher, $106.12, and muskrat, $6.62, said Jim Gibb of Fur Harvester Auction Inc.

More than 10,000 pelts were sold at auction this week carrying the Genuine Mackenzie Valley Furs label - the government brand sold exclusively to North Bay-based Fur Harvesters Auction Inc. - for $840,000.

"Asia is becoming the dominant market and out-competing Europe," he said.

Otter was a favourite for China, Russia bought a lot of fisher, while Germany was the big buyer for marten, he added.

Trappers in NWT are expected to benefit from the increased prices, with many likely to receive a prime fur bonus from the GNWT.

Set prices are advanced to the trappers based on the previous year's rates when wildlife officers collect their pelts. Bonuses are earned if they sell for more at auction than the amount of the advance.