The report of North Atlantic Lobster Coalition sharply indicates the market demand and supply. It is revealed that the demand is moderate to heavy. The market has been more active than was expected and this is good. The European demand has also been strong. While the supply continues to be less than adequate overall for the current demand. Local landings are dropping as gear is brought in for the season and windy weather also continues to cut down fishing days. Most inventories now consist of Canadian product.
It is mentioned that there have been some problems getting Canadian lobsters into the Boston market so there is no overabundance of lobsters. The storms have caused serious fishing problems for Canadian fishermen. It is also said that the supply of select sizes 1.5 to 4 lbs is tight. Offshore boats have not been out due to the holiday and weather but some have gone out now and are not back yet.
About quality the report mentioned is very good. The lobsters are shippable. Any softer new shells are hardening up and the Canadian lobsters range from very good to excellent. But for the price it is expected to hold or even edge higher at least until after the New Years holiday. It is still uncertain what will happen if demand drops as it usually does in January. Experts believe that much will depend on what will have to be paid for the Canadian lobsters.
