3-Minute Market Insight
EP 393 | Aired 07/02/2018
Pacific Halibut Prices Continue to Fall

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...

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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.

SINBAD Halibut
Prices on 1-3lb single frozen IQF Pacific Halibut Fletches from the USA were in the high $14s at the beginning of the year.

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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