In that case they would be taking fewer muskrats, which also would lower prices.

WSJ: Muskrat Love: Exuberant Demand Pays Off for Great Lakes Fur Trappers

Dennis Gast, a game warden who catches muskrats in his spare time, is one of this area's most admired trappers.

WSJ: Muskrat Love: Exuberant Demand Pays Off for Great Lakes Fur Trappers

"There isn't very much upside potential on muskrats, so it's a good time to sell now, " the 59-year-old Michigander explained.

WSJ: Muskrat Love: Exuberant Demand Pays Off for Great Lakes Fur Trappers

This is a place an hour from wilmington where bald eagles nest, muskrats swim and you can explore sunken ships at low tide.

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He brought 198 muskrats to Al Niemala's stop in Chassell, Mich.

WSJ: Muskrat Love: Exuberant Demand Pays Off for Great Lakes Fur Trappers

The remaining pelt supply comes the old-fashioned way: The U.S. has 150, 000-plus pro and part-time fur hunters, mostly in the Midwest and Northeast, who pursue the likes of muskrats, beavers, raccoons, bobcats and, to a lesser extent, foxes, coyotes and mink--all under strict state regulation.

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