Word On The Street

NORTH ATLANTIC LOBSTER COALITION MARKET DEMAND AND SUPPLY UPDATE: MASSACHUSETTS REPORT

WEEK OF APRIL 14, 2014

 

DEMAND is light. There has been a slight increase in market activity as the Easter holiday approaches but it isn’t much. Most of this activity is in the European market. The price for lobster is so high that it has cut off most demand.

 

SUPPLY is tight and just barely adequate for what demand exists. Inventories consist of Canadian and Maine product. Local landings are very light and are not a factor in the supply. Due to the high prices to bring in Canadian or Maine product, dealers are only buying what they really need. Most of what is being brought into the Boston market from Maine or Canada are now fresh (new) caughts. Landings in both Canada and Maine are behind last year. There still, however, is some Maine pounded product. There has not been any offshore product landed. Many of the Offshore boats have been working on crabs when they do get out.

 

QUALITY of the available product is very good. Most of what’s available is fresh (new) caught product. Just about everything is shippable. 

 

PRICE is expected to hold at current levels at least until more lobsters start to enter the market. Poor weather and relatively cold water have kept landings down along the coast and in Canada. Traps are starting to be set but the high prices for Canadian and Maine product should hold local prices up. With local landings so light and the quality of local lobsters so good, this too should serve to hold prices up. Canadian lobsters are being brought into the Boston market as needed.