All three species of the muskrat are native to Newfoundland and Canada. What Muskrats Eat Muskrats usually feed on cattail roots, lily roots, and stems, plus other plant materials-and occasionally feed on fish, mussels, and crayfish. The muskrat likes marshy areas, lakes, ponds, rivers, and streams to use when feeding. The Northern Muskrat is one of the most important mammals in North America fur industry. Muskrats are intentially trapped, both for fur which is very durable, and because of the damage their burrows do to dams and ditches.
Trappers make more money on muskrat pelts than any other types of fur.
In addition to the pelts that are trapped, thousand more are produced and raised on Muskrat farms.