Most of the Canadian Maritime provinces, including Quebec, Prince Edward Island, and most of Nova Scotia, opens today with over 2,000 lobster boats fishing numerous lobster pots. They will land over 2,000,000 pounds a day, many days in a row. They will catch 100,000,000 pounds of live lobster in the next 60 days.
What this means is that the exorbitant prices we have been paying for the last two months are going to drop sharply this week. With this volume, the processors, not the live trade, will determine the boat price. New production of lobster tails and lobster meat should hit Boston between the 15th and 20th of May. Prices have yet to be determined because the eventual dock price at which the processors step in is unknown at this time.