The Atlantic basin saw its first hurricane of the season last weekend. The Venezuelan government forbids fishing on Lake Maracaibo starting last Wednesday. Fishing resumed Sunday July 3, 2022.
That means there is a 4-day break in production in the pipeline. Blue crab landings in the Lake were already down 50% (as they usually drop in late June & July), and the storm has exacerbated an already bad situation. Inventory was tight before the 4th of July holiday, and it will be much tighter this week.
Prices are well over $20 now, heading to the mid-20s quickly. (Full Newsletter)
Prices are Subjected to change