In Uncertain Economy, Maine Lobstermen Stew

By M. Morris,  Newser Staff
Posted May 16, 2009 2:46 AM CDT
Cooked lobster claws and tails are seen at a lobster dealer in Portland, Maine.   (AP Photo)
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(Newser) – Maine lobster prices are uncharacteristically low, leaving the industry unsettled on the eve of the all-important summer tourist season, the Portland Press Herald reports. Wholesale prices are as low as $3.25, and retail prices start at $5.50. But some aren’t worried by the mercurial interplay of supply, demand, weather, and gas prices. "I think that we're going to have a good season," said one lobster dealer.

Part of the problem is huge stockpiles of lobsters in Canada, which typically buys half of Maine's catch but currently can't absorb even its own domestic crop. "You can get trailer loads of (Canadian) lobsters delivered here cheaper than I can buy from a boat in Portland," says the owner of a seafood company there.
(Read more Maine stories.)