SEAFOODNEWS.COM — May 28, 2014 — Cold weather has slowed down the pace of lobster landings in PEI, but that has not impacted the current price level which remains at $3.75 for canners (lobsters below 81 mm carapace size), and $4.25 for markets, which are both processed and sold live.
Water temperatures have come down a little from last week, due to a cold snap. According to Mike McGeoghegan, President of the PEI fishermen's Association, this had led to a slow down in landings, but prices have not changed.
In Boston, live demand has been light to moderate, according to the Massachusetts lobstermen's association that reports that Canadian live lobsters, FOB Boston, are selling at $US 4.50 to $5.00, which is lower than prices at this time last year, when they were $4.60 to $5.25.
Lobster tail pricing has been quoted again by Urner Barry this week, with 4 oz Canadian tails priced at $15.50. This is about $2.00 higher than the price at this time in 2013, but is very much in the mid-range of lobster tail prices over the past six years.
It appears that the increase in Canadian shore prices (mostly up $1.00 from last year) is driven by currency shifts as well as market demand.
We may be in for a period of price stability on lobsters, after 2013 when prices started low and moved higher, and 2012, when prices started high and moved low.
This story originally appeared on Seafood.com, a subscription site. It is reprinted with permission.