Why lobster prices have stayed low in supply crunch | Undercurrent News

The harvesters, processors and sellers of North American lobster are living in strange times indeed.

Though the US and Canada, in 2017, saw their first decline in combined landings in nine years and global demand is continuing to surge, prices have managed to move forward by just a few inches.

The price of whole live lobster chix and quarters (1 pound to 1.25 lb) has risen from about $7/lb to a little more than $8/lb in the past two weeks on the wholesale market, while halves (1.5 lb to 1.75 lbs) are going for nearly $9 and selects (2-to-3 lb) are as high as $11, according to one large Midwest dealer.

But these prices come as the Chinese New Year – typically the peak time for lobster demand and prices every year — looms just two weeks away. And nobody is certain what will happen to prices after.

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Why lobster prices have stayed low in supply crunch | Undercurrent News.