SEAFOODNEWS.COM by John Sackton — January 14, 2015 — The confluence of Chinese New Year (February 17th) and Valentine's day this year on February 14th, is putting upward pressure on lobster markets.
Yesterday, Urner Barry raised their quotation on live New England lobsters by 25 cents, to $6.75 for 1 1/4 lb size.
Also wharf prices in Nova Scotia reportedly hit $6.00.
The fact that two important dates for live lobster sales are coming on top of each other is one of the factors leading to the firming market.
More fishing in Maine, as we also reported, will not affect this dynamic because volumes will be limited.
This story originally appeared on Seafood.com, a subscription site. It is reprinted with permission.