WEEK OF June 16, 2014
DEMAND reached a moderate level over the Fathers Day weekend and basically it was just barely at that level. It has now dropped back to light. Restaurants did ok with lobster sales and supermarkets did have some $5.99 specials. While there will be some market demand as we approach the summer season, the next expected spike in demand will be the 4th of July holiday.
SUPPLY is adequate for the market demand. Most inventories are being maintained by bringing in Canadian fresh caughts from the Canadian areas that are still open. Local landings have been dropping off and many feel that the lobsters are in their normal shedding (molting) period. Very few soft new shells have been landed so far. Some Maine product is available to the Boston market but not much is needed. Maine fishermen are also experiencing the same drop off in landings along most of their coast. Very little offshore product has been landed and many of these fishermen are still crabbing.
QUALITY of the available product remains very good to excellent. The available product is almost all shippable since there has been very little new shells showing up yet.
PRICE should hold at current levels unless softs-new shells start to show up in the landings. The Canadian price has dropped but their quality is still very good. The light landings locally and the good quality should hold prices for now. What will influence the price will be whether the local quality holds at current levels.