July 2, 2018 - In this week's episode we take a closer look at the Pacific Halibut market right now.
The International Pacific Halibut Commission set last year's quota at 31.4 million pounds in USA and Canadian waters. This year after a delay in confirming catch limits, the...
2018 Alaska Salmon Commercial Harvest Counter
(Harvest in thousands of fish)
Updated: MON JUL 02 2018 12:00AM (View Previous Weeks Totals)
Commission set the quota at just under 28 million pounds.
Despite the decreased quota, we are still seeing docks prices down significantly - by about $1.50 - $2.00 per pound.
We can see prices trend downward at the beginning of the year, preparing to clear inventories before the Commercial Halibut season which runs from mid-March until early November annually.
First of the season offers on 2018 Pacific Halibut Fletches were at $14.10/lb, a high price point in a falling market.
Throughout May we saw Halibut fletches fall by about 50 cents per pound every two weeks to where we currently see prices in the range of $12.85 to $12.95/lb.
Strong carryover inventories on the West Coast also contribute to falling prices as many processors report still holding full loads of headed and gutted Halibut from 2017.
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It is a buyers market right now and we anticipate fresh to begin slowing down, but the oversupply will likely continue to push prices down so buyers beware.
Everyone continues to wait for the supply and price to reach an equilibrium of what consumers are willing to pay for halibut at the center of the plate.
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