Recession Takes Bite Out of Animal Trade

MINDEN, IOWA (TheStreet) -- Business was booming for Dennis Fett, owner of the Peacock Information Center in Minden, Iowa.

"Then everything went away," he says. "It was like somebody flicked a switch, turned the lights off and said, 'You're done.'"

Fett has been featured in numerous newspapers, magazines and on The Tonight Show. His expertise in peafowl translated to brisk business for the books, DVDs, feathers and eggs he sells from his farm.

Fett might be stuck with 10,000 unsold peacock feathers.

Fett, like many in the world of exotic animals, has seen the economy take a bite out of a once-thriving niche. Those who buy, sell, breed and process rarities of the animal kingdom are finding it increasingly difficult to stay profitable now that consumers have scaled back luxury spending.

The eggs, which hatch baby peacocks with the aid of an incubator, once sold hundreds a year. This year, his flock produced more than 800 eggs, but only 50 have sold. The colorful feathers are also not moving and Fett may be stuck with an inventory of nearly 10,000.

"I saw this coming on and no one listened to me," he says. "The people with higher disposable incomes had stopped buying from us. I don't see it getting any better."

A decrease in the demand for luxury goods has also meant tough times for those who work in the Gulf Coast's alligator industry.

Wallets, bags and boots made from alligator skins were once high-priced status symbols. Today, few are buying them.