Seafood Market Updates

Seafood News, Specials & Updates

Monday, July 31st, 2023

Market updates for next week.

Availability & Pricing

Tilefish – We are seeing inconsistent availability still and no commitments for this week as of yet.
Lobsters – We should see more hard shells in the coming two weeks which will help with the mortality rates, but the inventory is still pretty low. Need to watch for China taking big purchases which could drive pricing up.
Steamers – Due to some quality issues, we have moved our purchasing to a new vendor but this will push the prices up a bit. Since the weather issues have calmed down up north, we are hopeful that product will be better and more readily available.
Halibut – This is still unavailable, which in part may be due to fisherman focusing on the salmon season. Look for possible relief by end of week.
Flounder – Flounder is out of season in the Gulf and Pacific which is driving pricing up for the supply out of the Carolinas.
Salmon – Salmon is moving up with farms prioritizing China and contracted purchasers. Suppliers may be holding back in order to get higher contract pricing as well which is affecting the European salmon. The good news is that there has not been a strike (yet) in Chile.
Mahi – Mahi is holding steady.
Swordfish – Swordfish jumped in price this week.
Tuna – Tuna is starting to get tougher to source which could drive it up.
Crab Clusters – These are evening out in price. Currently Japan is buying up the Russian crab which is helping to balance the market, but we do not have access to that product. Not seeing deals currently as there is plenty of demand with this year’s price point.
Alligator meat – This is in stock but still tight. We are still waiting on the bulk packs and anticipate some pricing challenges.
New Zealand Mussels – Plenty of NZ mussels in inventory per last week’s email.
Supreme crab meat – Red crab meat is back in stock which offers a less expensive alternative to our customers.

Games People Play

One of our customers was getting Bronzini at an unusually low price from another vendor. When we asked the customer to check the weights, it turns out the other vendor was charging for the whole fish weight but sending the fillets. They actually paid for twice as many pounds as they received. Once he did the math, we had the advantage on price.

Pricing discrepancies can be due to a lot of different reasons: like precut vs cut from whole; misrepresentation of product (some less reputable suppliers will do this); product was previously frozen, etc. It can also mean the vendor is going long on dates or not buying from a certified supplier. Or it could simply be a lost leader item. In short, if a price is unusually good, there is a reason.