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3-Minute Market Insight

EP 657 | AIRED 09/11/2023

2023 Pacific Halibut Update: Fresh and Frozen Opportunities as Salmon Season Wraps Up

Sept 11th, 2023 - Prepare for more fresh Pacific Halibut to hit the market as the Summer Salmon season winds down and fishermen switch their fishing efforts back to Halibut.

The pace of Pacific Halibut fishing started slowing down around mid-April and has since then trailed behind last year’s pace by about 1.5 million pounds.

However, as Salmon Season winds down, expect more Halibut to be harvested and processed for fresh and frozen programs.

And although this year’s Pacific Halibut limit is about 10 percent less than last year, commercial fishermen have always harvested at least 90 percent of the limit the last five years.

With that, the industry can anticipate a total net weight harvest of approximately 27 million pounds of Pacific Halibut in 2023.

Halibut Update

In turn, this could translate to an approximate 11 million pounds remaining to be harvested from September until the season concludes in early December.

Fresh pricing has settled down since the high’s seen at the start of the season in March.

When compared with the same time last year, pricing on Fresh Whole Halibut has dipped slightly with current pricing from low $8 per pound for 10/20’s to low $9 per pound for 40 ups.

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Our recommendation is to get a fresh and frozen Halibut program going.

While certain consumer segments are reducing their spending, others still possess disposable income and a desire for high-quality premium goods.

Halibut Update

Pacific Halibut holds its value well as a premium product, and if processed properly, also offers an incredible frozen shelf life.

Contact your Tradex Foods representative today for your Halibut needs.

Halibut Update

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