EP 349 | AIRED 08/21/2017

Halibut Pricing Trends During Slower Alaskan Landings and a Halted Russian Halibut Fishery

August 21, 2017 - Welcome to The Tradex Foods "3-Minute Market Insight" This is Kyla Ganton and here is the seafood news for the week of August 21st, 2017.

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--- Slower Halibut landings in Alaska soften pricing, while halted Russian Halibut landings pressure upcoming twice frozen opportunities. This year's Alaska Halibut quota was set at 18.3 million pounds, up from 17.2 million pounds the year prior. Total Halibut landings to date were last recorded by NOAA at around 11.7 million pounds. Overall, the 2017 Pacific Halibut fishery is about 217,000 pounds shy of the same time frame last year, even after a few weeks of decent landings. We mentioned in an update earlier in July that 2016 inventories were still available in many cold storages on the West Coast and that remains the case heading into September now too. Remaining 2016 inventories on headed and gutted 10-20lb IQF Halibut in Seattle are between $7.65 and $7.75 per pound. New Season Headed and Gutted 10-20lb halibut range anywhere from $8.00 to $8.15 per pound, depending on availability. Fresh Halibut sales are still strong but we have seen plently of frozen inventories on new production Fletches. Single frozen 3-5lb Pacific halibut fletches are currently available in Seattle at between $15.40 and $15.60 per pound. --- In the twice frozen market, Russian Halibut fishing is coming to an end. The bycatch fishery is tied to Longline Cod, which was about 80 percent harvested, bringing an end to Halibut fishing efforts. Twice frozen pricing was steady for the beginning months of the year, but we did notice a ten cent increase in May. Current inventories on twice frozen fletches range between $13.20 and $13.30 per pound, depending on sizing and availability. In speaking to Chinese processors, we determined that Russian raw materials will become scarce, which could cause the twice frozen finished good market to tighten by another ten to twenty cents. Good inventories on twice frozen fletches are available on the West Coast at the moment, buyers should secure any product needed in anticipation of a market shift by December. --- Finally, our TradexLIVE offer of the week is for 1-3lb IQF Sinbad Halibut Fletches. These are #1 quality, twice frozen, packed 1x25lbs and available in Vancouver at $13.15 / LB USD. Click or tap the icon above to view this offer. ----Thank you for joining me for the Tradex Foods "3-Minute Market Insight" This is Kyla Ganton - “BUY SMART” and “EAT MORE SEAFOOD"

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