Market Update

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Updated March 3, 2010

 

 


Happy March to Everyone!
 
The month of March starts the beginning of changes in the weather patterns between winter and spring weather and the resulting changes can be incredibly unstable. The temperatures are moderate in the North East, but the frequency of storms has increased; BEWARE THE IDES OF MARCH. The saying refers to the storms and winds that generally occur this time of year and create unstable conditions for fishing, scalloping and clamming. NOAA has issued storm warnings for most of the Eastern seaboard with Gale force winds and heavy seas expected over the next two days offshore on Georges Bank, into the Gulf of Maine and also the Canadian Maritimes. The weather will be moderate for a couple of days and another storm will develop on Sunday into Monday of next week.
 
Groundfish:
 
Current supplies of fresh fish are limited and prices are very high especially for better quality fresh fish from small boats. Some of the bigger boats that continue to fish are landing mediocre quality fish after long trips in rough seas. Be careful when purchasing finfish or fillets that are below market prices, as it may be held fish or caught in rough seas, consequently the quality will suffer. Supplies of fresh groundfish will remain tight until the weather improves and boats return to fishing. There have been some signs of pre-spawn in Haddock and Cod, this is much earlier than expected and is not a good sign for quality fresh fish.
Most buyers do not realize that spawning fish are in a extremely weakened state; consequently, the shelf life of products produced from spawning fish will be reduced, and the flesh tends to be very soft. This is the time of year I recommend that customers switch to FAS refreshed fish as the quality is always good and certainly superior to large dragger caught fresh fish this time of year. Prices for FAS Haddock and Cod are stable and supply from Bristol Seafood is excellent.
 
Scallops:
 
The new season started for American scallopers Monday, March 1st. There will be some minor changes - when and where the fleet can fish - but overall the changes are minor from last year. Originally the NMFS was going to reduce the Days At Sea allowed by the large offshore boats, but the science did not support the decision. After many industry members, captains of vessels and scientists petitioned the NMFS, the cut in days allowed to scallop were re-instated. The only major change will be a reduction from 5 trips into the closed areas in 2009 to 4 trips in 2010. Large U/10 scallops are still very scarce and most offshore captains do not expect any volumes of larger scallops until late spring or mid summer. There are small quantities being landed from the offshore boats and limited supplies from the Maine scallopers. Expect U/10 scallops to remain in the $12.00 to $13.00 range to the boats and higher for retail, until landings substantially increase. With bad weather approaching landings for American boats will remain light, but as more boats gear up, and as the weather moderates, supply of smaller sizes should improve. Canadian scallop boats are also returning to the grounds, but slower than the American fleet and the majority of product being landed will be 30/40 and 20/30 count product. Japanese North Hokkaido inventories are low, but there are some containers due at the end of March with mostly smaller sizes available at very high prices. Mexican and Russian supplies are all but gone and what remains is from last year. Peruvian scallop supply remains strong for 20/30, 30/40, 40/50 sizes but smaller scallops are scarce and expensive. Demand for small roe on scallops in Europe has diverted supply overseas; consequently most product being offered in the USA is larger sizes. Chinese scallops of all sizes remain available, but prices are much higher and quality is always suspect.
 
FAS Haddock:
 
The Norwegian Long Line season is winding down for the boats concentrating on Haddock, most of the boats fishing the Barents Sea and the North Atlantic are switching to Cod fishing. Cod demands a much higher price in Europe than Haddock and the boats will all eventually switch over before the spring spawning run starts for Haddock. Prices have remained stable and this is the time of year I recommend that buyers switch from soft pre-spawn fresh fish to beautiful FAS Long Line Norwegian Haddock. Be careful when purchasing FAS Fillets, some product could be produced from draggers (trawlers) and, although the product is a good value, it is not genuine Long Line. The key indicator will be a brownish or dark yellow tinge in the meat of the fillets. This is a result of improper bleeding or trying to bleed a fish that has expired, leaving behind a residue of blood in the tissue that turns brown/yellow after freezing. Long Line fish is landed alive, quickly bled and then gutted; consequently there is negligible amount of blood remaining in the tissue to turn color during freezing. Not only are the fillets whiter in appearance, but they will also have a better shelf life because there is less uric and lactic acid left in the tissue to break down the enzymes and surrounding tissue.
In short, genuine Norwegian long Line is a little more expensive, but a superior product to all other frozen at sea Haddock and better than most fresh fish that has been on board for days before landing.
 
FAS Alaskan Cod:
 
The Long Line season has ended until the fall when the Long Liner season begins again with new quota's, but there are still some CDQ boats fishing and a couple of Long Liners allowed to do experimental or research fishing with inspectors on board. As with Norwegian Long Line fish there are Alaskan dragger (trawler) fish available, but it is inferior quality compared to genuine Long Line fish. There are also shore frozen and pot-caught fish available, although these fish are also inferior to FAS Long Line Cod. Be careful when purchasing Alaskan Cod as there are many substitutes and different sales pitched to get you to buy other types of product. Finally, beware of all Chinese twice frozen products; the price might be good, but is the product going to bring repeat customers?
 
Shellfish:
 
Most shell stock of hard-shell and soft shell clams has been adequate for the winter; with Lent, demand increases and there could be some spot shortages because of weather and closures from spring run off.
Mussels and Quahogs are currently in good supply. There are a few problems with oysters, but overall supply is good and should improve.
 
Halibut:
 
Fresh Halibut is available from long trip and day boats in Canada and supply should continue to improve as weather conditions improve. Unfortunately, weather patterns this time of year are unpredictable as is the supply. The West Coast is gearing up for the new season, and I expect new supply to be available within a week or two, but traditionally the first landings are very expensive. It could take a couple of weeks for prices to moderate as supply increases, but with a drop in quota for 2010 I expect prices to remain strong.
 
Salmon:
 
Farmed Salmon supplies remain steady from Canada and Maine, imports from Norway are also steady, although smaller fish are becoming more difficult to obtain as many farms are clearing out mature stock. The farms will begin to introduce stock into the pens and there could be a blip in supply during that period, but the farms we deal with have assured Bristol of a steady supply.
 
Swordfish & Tuna:
 
Swordfish remains in excellent supply with product available from American boats in the South and fish from Costa Rica and Panama along with some fish from the Pacific Isles.
Tuna remains in tight supply and as I have mentioned before with high demand and worldwide production low, tuna supply will remain tight and prices high.
 
Have a great week and remember FISH IS BRAIN FOOD.