Market Report: Winter Markets 2009

The gloomy global economy has had at least one benefit—lower seafood prices! Of course, seafood prices have always been volatile, as supplies can fluctuate wildly from year to year, but the noticeable trend now is down. Take Dungeness crab, for example. This year's ocean fishery off northern California, Oregon and Washington, which opened December 1, is looking a lot like last year's disappointing season. However, in spite of the lower catches, fishermen are getting the lowest price they've received in almost five years. That allowed a lot of retailers on the West Coast to offer fresh whole cooks at just $2.99 a pound.

Seafood prices have always been volatile but the noticeable trend now
is down.

Up in Alaska, meanwhile, the quota for this winter's snow crab fishery is about the same as last year, but prices won't be. Since this summer, snow crab prices have dropped more than $.50 a pound. King crab prices, on the other hand have held up, due to strong demand from buyers in Japan.

Lobster prices, on the other hand, have been in freefall. The wholesale price of the 5-6 ounce benchmark Australian coldwater tails has collapsed about $10 a pound. Maine lobsters have been a great buy, too, as they were selling this fall for about half their normal price.

The secret
to enjoying seafood these days is to search out the good buys, as there are more of them all
the time.

Shrimp prices have been stable, as farmed producers, who have already been suffering from low prices and rising production costs, have been cutting back on production in an effort to stabilize prices. The producers have been helped somewhat by a stronger U.S. dollar, which means they get more money for their shrimp. So look for shrimp to remain a good buy for some time.

If you're looking for fresh wild salmon this winter, don't expect any bargains as the supply is still very small. Trollers in Southeast Alaska are still getting a phenomenal $9-$10 a pound at the dock for their kings this January, pushing the retail price of fresh fillets to almost $30/lb.

The secret to enjoying seafood these days is to search out the good buys, as there are more of them all the time.