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Low lobster demand puts fishermen in red (at 50% price of a halibut)
FT ^ | 01/01/01 | Bernard Simon

Posted on 01/03/2010 6:59:01 PM PST by TigerLikesRooster

Low lobster demand puts fishermen in red

By Bernard Simon in Toronto

Published: January 1 2010 21:02 | Last updated: January 1 2010 21:02

At a time when prices for commodities such as tea, cocoa and sugar are soaring to their highest levels in years, lobster, a delicacy associated with luxury living, is selling at bargain prices.

Prices have sunk so far over the past two years that some mass-market restaurant chains have added lobster to their menus. Tennessee-based Ruby Tuesday, with about 850 outlets in the US, offers lobster tails, as well as lobster carbonara and lobster macaroni and cheese.

Hannaford Supermarkets, a New England chain in the heart of the US lobster industry, has the crustacean on special this week at $4.99 a pound, half the price of halibut.

(Excerpt) Read more at ft.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: economy; lobster; sale

1 posted on 01/03/2010 6:59:03 PM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

Ping!


2 posted on 01/03/2010 6:59:55 PM PST by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: TigerLikesRooster

Guess I know what I’m making for dinner.......


3 posted on 01/03/2010 7:01:38 PM PST by phoenix07
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To: TigerLikesRooster

That explains the $5/lb. drop from last year at this time.


4 posted on 01/03/2010 7:03:01 PM PST by Born Conservative ("I'm a fan of disruptors" - Nancy Pelosi)
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To: TigerLikesRooster

East Coast Lobster has been on sale in the CA desert for $5/lb, for the last 3 weeks.

Last year it ran as low as $1/lb.

West Coast lobster is hard to find at reasonable taste or size.

Anybody know the actual mechanics of the market driving these low prices, or has Guido been busy in New Jersey providing more feed for East Coast Lobsters the last 6 months?


5 posted on 01/03/2010 7:03:05 PM PST by Cvengr (Adversity in life and death is inevitable. Thru faith in Christ, stress is optional.)
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To: TigerLikesRooster

Looks like http://Lobster.com is doing well.


6 posted on 01/03/2010 7:03:37 PM PST by bvw
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To: TigerLikesRooster
WOW - I'm going to stock up now by mail order, and keep in the freezer - I love to make Fajitas with Lobster, beef and chicken.
7 posted on 01/03/2010 7:03:52 PM PST by J Edgar
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To: TigerLikesRooster

In Maine this summer, I got a dozen 1lb~1 1/4lb lobsters and 5 lbs of clams for $60

Dinner was Yummy!


8 posted on 01/03/2010 7:06:19 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: bvw

They probably market to the French!


9 posted on 01/03/2010 7:06:47 PM PST by J Edgar
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To: TigerLikesRooster
I love shrimp and crave prawns, lobster though... I could do without.
10 posted on 01/03/2010 7:07:17 PM PST by TexasFreeper2009 (Obama lied, the economy died)
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To: TigerLikesRooster

Looks like the bottom dropped out for the bottom-feeders. Congress, are you paying attention?


11 posted on 01/03/2010 7:07:37 PM PST by Ezekiel (The Obama-nation began with the Inauguration of Desolation.)
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To: TigerLikesRooster
In rural Mina, Nevada...

Image and video hosting by TinyPic

12 posted on 01/03/2010 7:10:16 PM PST by Inyo-Mono (Had God not driven man from the Garden of Eden the Sierra Club surely would have.)
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To: mylife

LOL
I was just about to PING you to this thread!


13 posted on 01/03/2010 7:10:58 PM PST by MS.BEHAVIN (Women who behave rarely make history)
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To: TigerLikesRooster

While the wholesale price may be declining, I don’t expect to see price reductions for Lobster on the menu at my favorite restaurants...


14 posted on 01/03/2010 7:11:43 PM PST by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: TigerLikesRooster

LOBSTER TAILS ARE NOT FROM LOBSTERS

.... they are a type of crayfish, marketed as “lobster tail” ... but definitely not a true lobster.


15 posted on 01/03/2010 7:11:49 PM PST by canuck_conservative
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To: MS.BEHAVIN

Yummy!


16 posted on 01/03/2010 7:12:35 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: MS.BEHAVIN

One thing I noticed at Hannafords was that catfish is expensive.

They give it away here.


17 posted on 01/03/2010 7:13:58 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: TigerLikesRooster

Interesting. Halibut runs about $20.00 a pound in LA.


18 posted on 01/03/2010 7:14:34 PM PST by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: mylife

For some reason, catfish has ALWAYS been expensive up here.
Maybe it doesn’t sell as well..?


19 posted on 01/03/2010 7:17:24 PM PST by MS.BEHAVIN (Women who behave rarely make history)
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To: TigerLikesRooster
I was down in Grenada and a guy went diving and brought back 22 lobsters for 10.00 and a cook to cook them for me. I loved that place. Muuuummmmmmmm fresh banana daiquiri's !!!
20 posted on 01/03/2010 7:17:29 PM PST by therut
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To: BunnySlippers

Holy Carp! Thats expensive!


21 posted on 01/03/2010 7:17:52 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: mylife

Man, that was some feast, huh?
I was a busy gal that night!
LOL


22 posted on 01/03/2010 7:18:50 PM PST by MS.BEHAVIN (Women who behave rarely make history)
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To: canuck_conservative
.... they are a type of crayfish, marketed as “lobster tail” ... but definitely not a true lobster.

That makes sense based on how they taste, which is quite unlike lobster IMO. It also explains this: Twice I've tried "lobster tail" as an add-on on a dinner (at different restaurants) and both times I got tiny, shrivelled and non-lobster tasting...stuff...that seemed much more like a deceased garden insect than any kind of tasty seafood.

23 posted on 01/03/2010 7:18:53 PM PST by paulycy (AMERICA: Less safe. Less free. More broke.)
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To: MS.BEHAVIN
Man, that was some feast, huh?

I'm still talking about it aint I? ☺

24 posted on 01/03/2010 7:21:46 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: mylife

LOL
So you are!
Carry on!


25 posted on 01/03/2010 7:24:37 PM PST by MS.BEHAVIN (Women who behave rarely make history)
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To: canuck_conservative
Well...I attended the Crawfish Festival in Biloxi years ago, and damn that was some good eatin', although you had to eat a mountain of them little things...boiled in cajun spice. Nothing better, and such a friendly and crazy crowd.

You'd see a few dozen people dancing on top of those folding tables, which couldn't handle the weight, and then one of the legs would cave in, and they'd all go sliding down into a pile of human and crawfish carcasses, laughing their arses off. It was something to behold. Oh the humanity.

Those Mississipians know how to party.

26 posted on 01/03/2010 7:25:21 PM PST by FlyVet
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To: MS.BEHAVIN

27 posted on 01/03/2010 7:25:44 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: Cvengr
Anybody know the actual mechanics of the market driving these low prices . . .

The bankers again. From Iceland to Canada banks loaned money to build processing plants. They couldn't service their loans and went bust. Only about 70% of the catch goes to the live trade so there is a lot of excess on the live market.

Some of these plants are (were) really high tech. Whole Foods was buying lobster which was pressure shucked..two dunks in tanks of water at almost 90,000 psi kills bacteria and makes the shell fall off..without hurting the meat.

28 posted on 01/03/2010 7:26:30 PM PST by Brugmansian
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To: bvw

I was going to place an order, but they don’t carry live lobster tales.


29 posted on 01/03/2010 7:28:41 PM PST by Notwithstanding (Wer glaubt ist nie allein. Who believes is never alone.)
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To: bvw

I was going to place an order, but they don’t carry live lobster tails.


30 posted on 01/03/2010 7:29:05 PM PST by Notwithstanding (Wer glaubt ist nie allein. Who believes is never alone.)
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To: TigerLikesRooster

I’d like to eat me some lobster for the halibut.


31 posted on 01/03/2010 7:37:37 PM PST by boocoowell (Nuclear power now!)
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To: TigerLikesRooster

One reason is that Maine lobstermen are catching triple what they caught 20 years ago.

http://money.cnn.com/2009/07/17/news/economy/cheap_lobster_bargain.fortune/index.htm


32 posted on 01/03/2010 7:38:39 PM PST by LibFreeOrDie (Obama promised a gold mine, but will give us the shaft.)
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To: TigerLikesRooster

Very interesting! I’ll have to check at the grocery stores and the Super Walmart.


33 posted on 01/03/2010 7:42:28 PM PST by Tax-chick (Yo quiero a bailar en Mexico.)
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To: LibFreeOrDie

Really? I thought the libtards said fishing is unsustainable LoL


34 posted on 01/03/2010 7:42:32 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: Notwithstanding

How about tales of live lobsters? I’ll sell you some. $10 a paragraph!


35 posted on 01/03/2010 7:46:29 PM PST by bvw
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To: mylife

The Maine lobster population is OK, it’s the Maine coldwater shrimp that’s under stricter control. This year is a good shrimp season - 180 days. And those little sweet shrimp are in season now!


36 posted on 01/03/2010 7:53:46 PM PST by LibFreeOrDie (Obama promised a gold mine, but will give us the shaft.)
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To: LibFreeOrDie

Boy they are good arent they?


37 posted on 01/03/2010 8:02:32 PM PST by mylife (Obama is a fine orator, and Janet Napalitano is cunning linguist)
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To: canuck_conservative

“. but definitely not a true lobster”

Same with the Florida “lobster”. When I was a kid we’d camp on an island in the northern keys for a few days, spend all our money on beer and eat nothing but “lobsters” we caught.

Burned me out on them then and now.


38 posted on 01/03/2010 8:10:59 PM PST by Rebelbase
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To: LibFreeOrDie
We don't need East Coast shrimp out here in the desert. We grow our own:


Desert Sweet Shrimp

39 posted on 01/03/2010 8:23:22 PM PST by Jeff Chandler (:: The government will do for health care what it did for real estate. ::)
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To: J Edgar

Given the dollar/Euro rate that would make cents


40 posted on 01/03/2010 8:27:31 PM PST by bvw
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To: bvw

But I can run by Race Street Fish and get live lobsters for a whole lot less than 27 bucks a throw. They fly them in from Maine and taste mighty good any time of year


41 posted on 01/03/2010 8:43:59 PM PST by the long march
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To: FlyVet

“Those Mississipians know how to party.”

They learned how from the La. cajuns ;-)


42 posted on 01/03/2010 8:51:11 PM PST by Magic Fingers
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To: Magic Fingers

I’ll give you that. No arguments. :)


43 posted on 01/03/2010 9:14:02 PM PST by FlyVet
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To: TigerLikesRooster

Lobster is overrated. Give me a Dungeness crab any day of the week.


44 posted on 01/03/2010 10:18:11 PM PST by GATOR NAVY
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To: FlyVet

Confession - I have an inside track on that...I grew up there.


45 posted on 01/04/2010 7:31:25 AM PST by Magic Fingers
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