from Wiktionary, Creative Commons Attribution/Share-Alike License
- adj. the movement of eels, especially migratory
from the GNU version of the Collaborative International Dictionary of English
- n. A brood of eels.
from The Century Dictionary and Cyclopedia
- n. In the Thames valley, the migration of young eels up the river.
- n. A fry or brood of eels.
Sorry, no etymologies found.
With respect, when you make a word the second element in a compound its initial consonant is no longer an initial, by definition; in the sentence "the eel fares well" the f- is initial, but in eelfare it's not, and different rules apply.
1 Elver 'a young eel' is a variant of eelfare 'the passage of young eels up a river; a brood of young eels'; the first OED citation shows nicely the phonetic development: