ANALYSIS: Maine Lobster Landings Decline as New-Shell Prices Near 2021 Record Highs
Maine's lobster catch is significantly lower this season, causing a sharp rise in both boat and market prices for new-shell lobsters. Although live demand is entering its typical lull, competition for lobsters is intensifying—primarily driven by the processing sector eager to replenish low inventories. This mirrors the scenario in 2021 when the easing of COVID restrictions and the reopening of global economies triggered a similar scramble. Low inventory levels, coupled with high demand for lobster meat and tails, are leading processors...
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