Market Report

Autumn Buys

• Oysters are once again getting full and plump...
  The first crisp, cool days of Autumn (Fall) are normally a welcome sign of the year for seafood lovers. That’s because oysters are once again getting full and plump after spending the summer spawning. But this year, oyster lovers will have to be prepared to fork over more money for their beloved bivalves. The brutal hurricanes that slammed into Louisiana have all but wiped out that state’s oyster harvest, perhaps for as long as two years. And Louisiana is a prodigious producer, accounting for more half of all the U.S. oyster harvest. Oysters from Texas, Florida and the West Coast will still be readily available, but look for prices to be at least 20 percent higher than pre-storm levels.
• Hurricanes battered the shrimp industry...
  In Louisiana, Mississippi and Alabama, as hundreds of boats were destroyed, processing plants were flooded and the infrastructure in many ports so vital to the seafood industry (think ice machines, fuel docks) was destroyed. The timing was especially bad because September is a peak month for landings. Not surprisingly, this pushed up shrimp prices. However, since more than 80 percent of the shrimp consumed in the U.S. is imported, the increases were relatively modest. While it may be not as inexpensive as it has been the past few years, shrimp remains a very, very good buy.
• Lower snow crab prices...
  On a more positive note, snow crab prices have continued to drop through the summer – good news for crab crackers. However, this price drop is somewhat surprising since snow crab imports are actually down about 10 percent in 2005 – more proof that seafood markets work in strange ways. The lower snow crab prices should have an impact on the big West Coast Dungeness fishery, which should start in December if the crabs have filled out after their fall molt. Dungeness landings have set records the last three years in a row and fishermen report it looks like another very good year.
• King Crab: a special treat...
  Speaking of crab, for the first time there will be steady supplies of fresh Alaska red king crab this fall, probably up to mid December. That fishery is now on an individual quota system, which means fishermen can fish pre-assigned shares when they want, instead of racing to land a fixed quota shared by the whole fleet. That has extended the fishery from less than a week to more than two months. It will be pricey, with most supermarkets selling it at about $25. If you’re in the mood for a special treat, though, fresh king crab is definitely worth a try.
• Higher Salmon prices...
  Salmon prices across the board are at higher levels than they have been in some time, as demand for this heart healthy seafood grows and grows. Fresh wild salmon will be available only in very, very limited quantities until next May. The only fishery is the small Alaska winter fishery for troll kings. Farmed salmon demand has also grown and prices have jumped about 20 percent, as farmers need at least two years to increase production (that’s how long it takes to grow a farmed salmon from egg to harvestable size).