As of this morning, the floodgates have opened in almost all Canadian maritime provinces. An estimated 2 million pounds of lobsters are being caught each day. The market has dropped significantly from the February highs but still has a long way to go.
This week, chix and quarters are under $13 a pound, halves are under $14 a pound, culls are $11.95 a pound, and deuces are just under $16 a pound. After this week, the processors (ones who buy in higher volume), not the live trade buyers, will be “driving the bus” as far as dock prices paid to lobster fishermen go. The processors don’t want to put up a bunch of expensive tails and meat and hope to sell them later in the year as interest rates rise and the strength of the American consumer is being severely tested by inflation. Full Newsletter
Prices are subject to change.