Weekly Seafood Report

Tim Sloan V.P. Sales & Marketing E.Frank Hopkins Co.,Inc. 215-468-9190 215-468-9189 Fax 215-588-8017 Cell Tsloan@hopkinsseafood.com

Tim Sloan
V.P. Sales & Marketing
E.Frank Hopkins Co.,Inc.
215-468-9190
215-468-9189 Fax
215-588-8017 Cell
Tsloan@hopkinsseafood.com

The Fresh, Wild Caught Salmon season is still in full swing. We have been getting 5-9 lb Cohos, 4-6 lb Sockeyes & 11-18 lb Kings on a consistently daily basis. Quality, Meat Coloration & Pricing remains outstanding!!! The wild season will run until October. The Fresh Farm Raised Market remains at money making levels for food service operators!!! The earthquake that rocked Chile hasn’t disrupted supplies of Salmon or Sea Bass.
2) Maine Lobster men are seeing their profits drop as Atlantic Herring (used for bait) prices are increasing. Asking prices for Lobster meat remain high as demand from China remains strong despite their economic crisis.
3) The European Union has given Thailand until October to put a halt to Illegal, Unregulated & Underreported (IUU) fishing before economic sanctions are placed against them.
4) There was a slight uptick in price on Halibuts coming out of Alaska & Canada last week, mainly due to fishermen trying to cash in on the wild salmon season before it closes. Prices for fresh halibut remain very reasonable. The wild caught Alaskan season ends mid-November, however Canada will remain open. There is a proposal to increase the Halibut quota in Greenland for the 2016-2017 fishing season to a total of 19,800 metric tons.
5) According to the National Restaurant Association, higher income households (those above $70,000), account for 60% of spending in restaurants.
6) Vietnam’s YTD shrimp imports are down close to 18%, one reason is the higher cost to raise Black Tigers compared to the faster growing Vannamei Whites. Another contributing factor is the weaker economies in Indonesia, India & Thailand & competing against their devalued currency on a global market.
7) Blue fin Tuna landings are starting out slow, which are keeping asking prices high.
8) A recent study showed a decline in the biomass of mature males of Red King Crab & Opilio Snow Crab. Supplies are causing prices of Red King Crab to increase. Availability of Snow Crab is strong, prices are reasonable & stable.
9) We are starting to receive new production Lobster Tails from Brazil & Central American countries. The market is firm, especially when considering the Canadian market.
10) Pulpo/Octopus-the Philippine season is underway & will run until November. We also carry a 6/8 lb Octopus from Portugal.
11) The Bay Colony Sashimi Grade Tuna container (all sizes) is in, prices continue to remain stable.
12) The Florida Stone Crab Claw starts October 15th.
13) Florida fishermen are fighting Red Snapper quotas stating the specie is healthy domestically.
14) Maryland is open for Black Sea Bass harvesting, whole mediums averaging 1 lb are the predominant size being landed.

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