Sluggish lobster demand; downward price pressure

The June lobster market was a mess. Problem #1 – prices were too high. Problem #2 – too much product was on the market. And problems #1 and #2 were exacerbated by #3 – the extremely early appearance of US shedders. The result: Sluggish movement through the lobster pipeline, and that has consequences affecting all of the industry.

In May a southern Maine dealer had been able to peddle his more than sixweeks- early shedders because there hadn’t been that many around. By the reporting week in early June, though, not only were shedders showing up in more places, but more traps in the water meant increased shedder volume. The dealer said catches got ahead of his ability to market them. He hoped that by the Fourth of July, shells would have firmed up, and his business would be in what he called full operational mode.

Read the rest and much, much more in the July issue of Commercial Fisheries News.
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