What is the climax in "Hunters in the Snow"?

The climax of this rather surreal short story comes rather abruptly at the very end of this tale, when it becomes clear that Kenny is not heading towards any hospital and that Tub and Frank hold their flourishing friendship to be more important than the life of Kenny, their former friend. Note how this is described in the final paragraph:

Kenny lay with his arms folded over his stomach, moving his lips at the stars. Right overhead was the Big Dipper, and behind, hanging between Kenny's toes in the direction of the hospital, was the North Star, Pole Star, Help to Sailors. As the truck twisted through the gentle hills the star went back and forth between Kenny's boots, staying always in his sight. "I'm going to the hospital," Kenny said. But he was wrong. They had taken a different turn a long way back.

A deliberate parallel is drawn between the stars and Kenny's companions: both are out of touch with Kenny's suffering and danger, and there is significant irony in the way that the narrator points out the North Star, which was seen as a symbol of "Help to Sailors" as it was what sailors used to guide them safely to their destination. There is no such hope for Kenny, unfortunately, as teh final line makes clear. Although he is clearly weakening, and, the reader infers, in danger of dying, his uncaring "friends" place more value in their burgeoning friendship than in Kenny's health. The reader now realises that there is very little hope of Kenny actually getting to the hospital and that he will probably die long before he receives any medical attention.

Where is the climax of the story, "Hunters in the Snow"?

The climax is when Frank and Tub stop to warm up, and they start bonding with each other. Both of them are totally unconcerned about Kenny, who is cold and wounded in the truck.  We know that Kenny has a serious wound, yet the two men are in no hurry to get him help. We realize that Tub and Frank don't care about Kenny, and he will probably die. At the end, Frank and Tub, after making their second stop, head in the wrong direction of the hospital, and we know Kenny is all but dead. 

What is the conflict in "Hunters in the Snow?"

The conflict in "Hunters in the Snow" exists between three friends. Frank, Tub, and Kenny are all fundamentally disconnected from each other because all of them are holding back the truth of their character. Though the extent of his crime isn't specified, Frank is implied to be a pedophile, and Tub pretends to be on a diet and then overeats fatty foods in secret.

While no specific secret is ever attributed to Kenny, his tendency to deliberately antagonize people for his entertainment seems to belie some sort of devastating internal conflict. This is perhaps some sort of depression, as one of the most telling moments of Kenny's character is when he starts listing things he "hates" and shooting them, culminating with the farmers dog. Kenny was told by the farmer to shoot the already dying dog, and simply didn't tell Frank and Tub as a sick joke. There is, however, a certain sadness in his actions. He may truly feel that he hates everything.

The conflict between and within at least two of the characters is resolved. Though neither Frank or Tub solve their problems, they at least come to terms with them and have a friend in each other. Kenny is not so lucky, and his isolation from his "friends" is symbolized in the final reveal that he "wasn't going to the hospital."

What is the conflict in "Hunters in the Snow?"

The "conflict" in the story is not so much between the characters as it is within them. Each of the characters is fundamentally disconnected from their emotions. Frank is seriously considering ending his marriage to run off with a fifteen year old babysitter; Tub is riven with guilt about his eating disorder. Kenny's internal state is more opaque, but he clearly enjoys antagonizing the other two men. As the hunting trip unfolds, the nature of their friendship is called into question—it is clear that something is bothering these men and it is not the hunting; their inability to communicate with each other is debilitating. Tub's shooting of Kenny—the result of a bizarre sequence in which Kenny names things he hates and then shoots them, including a dog—could have been prevented if Kenny had told the others that he had been given permission to shoot the dog. He seems to not mention this on purpose, as if he meant to provoke Tub.

The final part of the story, in which Tub and Frank emotionally connect while Kenny bleeds out—apparently forgotten—in the bed of the truck, is at best an ambivalent resolution. Perhaps what binds the men together is their mutual lack of self-knowledge and empathy.

What is the conflict in "Hunters in the Snow?"

The main external conflict in “Hunters in the Snow” by Tobias Wolff exists between Tub and his so-called friend, Kenny. The other character, Frank, is also part of the conflict through much of the story but becomes Tub’s ally as the conflict resolves itself. Throughout the story of the three hunters, Tub is ridiculed for his weight and left to survive the hunting trip on his own while Frank and Kenny bond together bound by a secret. They leave Tub to struggle through the woods and snow during the unsuccessful hunt. Kenny mocks Tub for his inability to keep up with the others. Frank acts as an accomplice to Kenny therefore; he is part of the conflict. Tub carries the weight of the ridicule until he shoots his gun and hits Kenny. As Tub and Frank begin to take Kenny to the hospital, they bond over shared secrets, and the conflict between the two of them is resolved. Through their bond, they deal with the conflict with Kenny in a most unfortunate way.

What is a major theme in "Hunters in the Snow?"

Because this story is a true example of Existentialism in literature, I can appreciate the previous answers giving the detailed themes that they give, but I am going to be a lot more simple about it.  The main theme of the story is hunting, just like we have to hunt for the meaning of the signposts covered in snow, we have to hunt for the senseless morality of the characters in this story.

There is a natural hierarchy here:  one of the hunter and the hunted.  In most cases between the three, Kenny is the hunter.  Why?  He is the most athletic, the most fit, the most agile, the most cunning, and the most intelligent.  As a result, he "hunts" Tub:  the least athletic, the least fit, the least agile, the least cunning, and the least intelligent.  This is done through one practical joke after another. 

In creating their own reality, "the hunters" create their own warped rules.  One example of an absurdist, warped rule is that you can lead through bullying and keep close with "friends" through ridicule.  No compassion is tolerated.  The two other "friends" simply allow Kenny to die in the snow due to their warped rules.  The bawdy jokes between the two living members are so coveted, that the need to help Kenny is ignored.

Bawdy bonding is worth more than life itself.  Absurdism in its best form.  What a bleak story!  Further, the selfishness does not subside at the ending, as the characters flee from the North Star:

Right overhead was the Big Dipper, and behind, hanging between Kenny's toes in the direction of the hospital, was the North Star, pole star, help to sailors. 

What is a major theme in "Hunters in the Snow?"

One major theme in the story is unintended consequences. The hunting trip becomes a disaster and because of the various factors, hidden truths come out, and a man might die. Each event is preceded by something that foreshadows it, but all the characters are so self-absorbed that they can't see past their own immediate gratification.

"You're a grown-up, Tub. You can take care of yourself. Anyway, if you think you're the only person with problems I can tell you that you're not."

"Is there something bothering you, Frank?"

Frank kicked at a branch poking out of the snow. "Never mind," he said.
(Wolff, "Hunters in the Snow," classicshorts.com)

Even though Kenny has a history of making cruel jokes, his sudden real action of killing the dog makes his joke on Tub seem real, and Tub shoots him. Because of the stress, Frank reveals his affair to Tub, and Tub reveals that he overeats on purpose. Kenny's probably death is a direct, unintended consequence of his constant cruelty to Tub, but he never considers that his jokes could have any real effect until it is too late.