It is incredible that the same pound of fresh Venezuelan jumbo lump that went for over $60 last July ($10 more than local Maryland meat), is now less than $20 a pound. Many of the picking plants around Lake Maracaibo “paused” their production last week to use up the inventory in Miami and prevent the price from going any lower. There seems to be an
absolute ton of crabs in the Lake right now, and that is good news for our customers that rely heavily on crabmeat.
Meanwhile, the pasteurized market is showing signs of stress. The current prices for jumbo lump crab meat are in he upper $30s and low $40s. We have yet to see the “panic selling” needed to get prices down through the $30s and into the $20s where they tend to be at this time of year.
Prices are subject to change.