Market Report

The Wild Salmon season wound down in late September and overall catches were in line with pre-season forecasts. As predicted, catches of troll-caught kings off the West Coast were down dramatically in order to protect some weak stocks, especially Sacramento River fish. Through the end of September, West Coast king catches were about 800,000 pounds. That is well below a typical year, when catches run between 5 and 6 million pounds. Not surprisingly, the low catches have driven prices through the roof. Fishermen are getting $5 a pound for their fish, compared to $3.25 last year. That’s pushed retail prices for fresh king fillets above $20 a pound.

Look for more frozen sockeye fillets at your seafood counter this fall.

Up north, where Alaska typically produces about 95 percent of the U.S. wild salmon catch, the season produced few surprises. The total catch was about 140 million fish, down about 10 percent from the 5-year average. Pink salmon catches were off the most, which is normal, as pink harvests go down in even numbered years. King and coho catches were also down, but these two species account for less than 10 percent of the Alaska salmon harvest. Catches of chums and sockeyes were similar to last year. Look for more frozen sockeye fillets at your seafood counter this fall. Alaska processors say demand for frozen sockeyes is steadily growing here and less of the fish are going to Japan, which until recently had been the main market for frozen sockeyes.

In other salmon news, farmed salmon supplies and pricing remain very stable. Through July, imports were essentially flat at about 225 million pounds and wholesale prices for fresh fillets were steady at about $4 a pound. That means there will be ample supplies of farmed salmon this winter, but the days of $4.99 a pound promotions are probably over for good. Expect most retailers to sell farmed fillets at $6.99-$7.99 a pound this fall and winter.

For a good value in salmon, wild chum keta salmon from Hokkaido featured in our
Simply Seafood line.

If you’re looking for a good value in salmon, wild chum salmon from Hokkaido in northern Japan remain a good buy, even though prices are up about 15 percent from last year. Hokkaido chums, which we feature in our Simply Seafood line, have excellent fat content and meat color. And they typically retail for less than $5 a pound – a great buy in these days of high food prices

Don’t expect any great buys on crab this winter. The Alaska Department of Fish & Game announced that the quota for this winter’s king and snow crab fisheries will be about the same as last year. The industry had been hoping for a big jump in the snow crab quota, but the catch should be about 60 million pounds for the second year in a row. That’s an improvement from the 30 million pound average haul of the past few years, but it’s well below the big 200 million pound harvests of the 1990s.

Small bay scallops from China remain
a much better
buy on a
pound-per-pound
basis.

A rapidly slowing economy should put downward pressure on some popular seafood favorites. Catches of sea scallops off the Northeast remain near record levels, but strong demand has kept wholesale prices at about $8 a pound. That could change this fall if demand slows as expected. Small bay scallops from China remain a much better buy on a pound-per-pound basis. Medium size bays have been wholesaling for under $3 a pound. (As a general rule, double the wholesale price to get your typical retail price.)

Meanwhile, the price of Maine lobsters has dropped a bit even though catches have also declined. Late this September, pound-and-a-quarters were wholesaling for about $5 a pound, a dollar less than last year. Lobster tail prices have also tumbled. Warmwater Caribbean tails are about $5 a pound cheaper than last year, though with wholesale prices at about $16 a pound, they are hardly a bargain. The price of coldwater Australian tails has also sunk, but at $26 a pound wholesale, they remain a luxury seafood.

Shrimp producers have finally managed to pass on their higher production costs (think feed, fuel etc.). The wholesale price of medium-sized farmed shell-on whites are up to about $3.25 a pound, while larger wild Mexican whites are up to about $7.50 a pound.