Starting in early May, two million pounds of live lobster will be caught daily over a huge geographical area in eastern Canada. Two weeks ago, and for over a month before that, the dock price of live-run lobster in southwest Nova Scotia was $15.50 a pound Canadian. LFA 33 & LFA 34 are still open (until April 30), and with water temps warming, they are starting to catch a few. The problem is nobody wants them. The excruciatingly high prices have killed off almost all live lobster customers.
With China on COVID lockdown and only two weeks left before nearly all Canadian maritimes (PEI, New Brunswick, Quebec, Gulf of St Lawrence & Newfoundland) open their lobster seasons, lobster buyers are extremely motivated to get dock prices down to reasonable levels.
The dock price dropped from $15.50 to $12 a pound, then to $10 a pound, and will be $9 a pound by the end of this week. It will take some time (about 2 weeks) for those prices to filter through the distribution system. Bottom line, CQH, chix, quarters, and halves will be under $10 a pound by the first week in May. You can take that to the bank.
Prices are subject to change.
4/18/2022
