Price of Lobsters is Down!

N stopped by my desk and dropped the big news - the price of lobsters have been declining all summer! What, how is this not front page news? And, why did I not know about this sooner? I could've been gorging myself on delightful crustaceans all summer? Yes, this after my conversation with M about how a record number of children in the US are enrolled in school free meal programs and how families are struggling to feed themselves on $100 a week.

But, back to the lobsters. Let's look at the supply chain. Lobstermen need to pay for their boats and traps. There really isn't much more than that. They know that lobsters are a regional product - no global mass market or speculating on lobster futures. There are few local outlets for the lobstermen to sell to and distributors are pushing down prices because they are being hammered by rising prices of food. Lastly, the consumer. They are struggling to pay for gas for their car. They are not buying lobsters so demand has been way down.

I just read about services in Maine where you could own a lobster trap and the lobsterman sends you anything you catch from May to December. It costs about $3000 and you can get 40-50 lobsters and each shipment of lobsters comes with clams, mussels, a Maine-made dessert, bibs, cooking instructions and a gift card, plus free shipping. You can even track your trap online!

Let's eat!