May 12, 2017 — US fishing vessels have been landing lots of larger scallops since fishing started in March, bringing prices down rapidly.
So far, landings have been largely U10s and 20/30s, a source with a large New Bedford, Massachusetts-based buyer told Undercurrent News.
“At today’s auction we saw a lot of U10s. Daily catch rates have started high and with plenty of large scallops,” the source said.
Prices at the New Bedford auction illustrate this.
Early in April (April 10), prices were as follows, according to information seen by Undercurrent:
U10s caught in the Nantucket Lightship scallop access area went for an average $16.96 per pound; U12s from the same grounds for $16.66/lb; 10/20s from the Elephant Trunk flex access area sold at $9.63/lb; and 20/30s from the Mid-Atlantic access area went for $9.38/lb.
By April 26 these were down across the board: U10s down 4% at $16.31; U12s down 8% at $15.38/lb; 10/20s down 6% at $9.07/lb; and 20/30s down 6% at $8.80/lb.
However the real drop has come in May. On May 11 these corresponding prices were down, compared to April 10:
U10s by 19%, to $13.70/lb; U12s by 25% to $12.50/lb; 10/20s by 22%, at $7.51/lb; and 20/30s by 20%, at $7.47/lb.
“The catch rates have been outstanding,” a second source, who works at a fishing company, told Undercurrent. “So, people are trying to figure out if we are going to have 50-55 million pounds, which is a lot more than we have been getting.”