The Winding Glass: Is the Crab Market a Bellwether or a Blip?
In the U.S., snow crab outperformed every other seafood product during the pandemic. Yet today, the snow crab market is crashing at the fastest pace since the spring of 1995. That year, between May 1995 and May 1996, the price fell 46%.
This year, Urner Barry quotations from last summer until this May are down 33%, and the bottom has not been set. This is already the largest percentage decline in price since 1995. Since February the market has been going down around 50 cents per week...
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