May 21, 2018 - In this week's episode we take a look at the 2018 Pink Shrimp Fishery.
Last year's fishery landed nearly 23 million pounds of Pink Shrimp in Oregon, which was the lowest catch on record since 2009. El Nino has had a strong effect on the fishery...
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since it's peak in 2015, lowering catch as well as the value of the fishery.
The 2018 Shrimp season opened on April 1st as usual, and as of May 1st only a handful of boats have headed out to harvest.
This correlates with fears from the Oregon Department of Fish and Wildlife, who in their 2017 Pink Shrimp Review indicated that this season they "do expect count issues could arise early on in the season, depending on fishing effort."
Age 2 and 3 volumes are not anticipated to be on par with the past few years, based on low catch rates finishing off the 2017 season.
As a result, boats are predicting about 80 percent of production could be in the 350-500 count.
Customers that primarily use the most popular size, the 250-350count, are trying to determine if their customers can accept a smaller count like 350-500.
Offers on 350-500 count are in the range of $5.85-$5.90/lb on the West coast right now.
--- Another option for shrimp buyers might be East coast Pandalus Borealis shrimp.
Canadian fisherman began peeling last week and the first of the season Borealis offers are in.
About 10 percent of their catch seems to fit in to the 250-350count size at around $7.15/lb in Toronto.
Most of the Borealis catch at the moment is actually reported to be larger than 250-350count.
--- We usually see the market settle by June, as boats seek higher prices and more shrimp continues to land and be processed.
Last year pricing was around $4.95 in June but pricing is sure to be stronger this year as supply shrinks.
--- To wrap this episode up, our TradexLIVE offer of the week is for Sockeye Salmon Fillets.
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Call your sales rep for more information.
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