Monday, March 4, 2013

Lobster Prices Here and There


During the season of 2012, lobstermen took hits from the mild winter and warm spring. Soft-shell lobsters were coming in June, a month earlier than usual. The abundance of lobster turned into overabundance, causing a backup in the sea-to-table supply line. During the previous season, lobstermen were selling their catch beginning around $3.80 per pound. Whereas during the 2012 season, lobster was going for $1.35 per pound, plus the 70-cent dividend per pound, which is paid later in the year.

In New England supermarkets, whole live Maine lobsters were being sold for around six dollars, but during the 2012 season, lobsters were being sold for $3.99, even less. On wholesale websites, such as Wholesale Maine Lobster, lobsters are sold in different weight classes. The Standards are about 1.42 pounds at $9.95 per pound. The Jumbos are considered anywhere from 4-6 pounds and are $11.95 per pound, but the Selects are from 1.88 pounds to 3.0 pounds at $12.95 per pound. However, live lobsters only make up fifteen percent of the market. Most people prefer to eat lobster out so they do not have to deal with killing the creatures for dealing with the mess.

At restaurants, the prices of lobster have dropped as well. The Clam Shack in Kennebunkport sold simple lobster dinners for $14.99 during 2011, but in 2012 with the drop in prices, the cost fell from $11.99 even lower to $9.99. Some restaurant owners paid $5 per pound to their lobster dealers, and sell sold to their customers for a price beyond what would seem right. During the summer of 2012, the market prices of cooked lobster meat were near records lows in Maine, around $24 a pound, even though the restaurants did not pay much in comparison.

The drop in prices during 2012 hurt some lobstermen. With the amount they were able to sell their lobster for was not enough to cover each trip out. Some were forced to work round the clock to make up in volume where they lose in price. Tim Easton, a lobsterman, unloaded his record catch of 2,028 pounds in twelve hours, but that was not much of an accomplishment for him given the circumstances. The Greenhead Lobster company paid Easton $1.95 per pound, plus the 30-cent dividend, amounting to about $4,000 for one day. This did not balance out the costs of bait, fuel, his crew and payments on his boat. Easton was working much harder to catch much more, while earning much less. In earlier seasons, Easton could bring in a decent haul to make a living, but last summer, he had to come in with a huge haul. The drop in prices frustrated many lobstermen along the coast of Maine.


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