Seafood Market

1/16/24

Market Alerts

Supply steady, pricing steady
Potential supply challenges or near-term price increases
Current supply challenges and price increases

WILD CAUGHT

King Salmon (Wild) – The Alaska winter troll season is underway. This fishery typically demands a much higher price with small amounts available daily.

Customers that are interested in offering a wild King on the menu but require stable pricing should look at our previously frozen product.

Refresh Sockeye Salmon (Wild) – Bristol Bay had another solid year, and the freezers are full. Refresh Sockeye is being offered at a significant discount as compared to the previous two seasons.

Refresh Coho Salmon (Wild) – Frozen at Sea and refresh product is available now. Product is from Haida Gwaii of the coast of British Columbia (BC).

Refresh Wild Halibut – The Alaskan season is now closed for the season. We anticipate the new season announcement sometime towards the end of January. The Alaskan season typically opens mid-March

Rock Fish – Weather is now a factor on weekly supply. Customers should identify a frozen substitution in case boats are unable to fish. Last fall and winter storms disrupted supply on several occasions. Primary catch area is British Columbia.

Dover Sole – Dover sole is caught with nets that trawl near the sea floor making the process particularly susceptible to weather interruption. As the wave heights increase the ability for the boat to keep the net at the target depth becomes more difficult. The primary catch area is the Oregon Coast.

True Cod – The Alaskan season opened last week, and product is readily available. We expect Alaskan product to be available well into March.

Ling Cod – Supply is limited to by-catch from British Columbia. Primary catch area is British Columbia.

Black Cod – Product is limited to trawl and pot caught product from the Oregon and Washington coasts. Fishing is heavily dependent on weather conditions.

Dungeness Crab – Crabmeat is readily available. Most of the coast is expected to open on February 1, 2024. Price negotiations are ongoing. Pricing on all crab products is expected to increase.

Snow Crab – Supply is strong from eastern Canada.

King Crab – The first Alaskan King crab in nearly two years has arrived in Seattle. Product is extremely limited.

AQUACULTURE

Atlantic Salmon (Farmed) – In what is becoming an annual tradition the Atlantic Salmon industry opened the New Year with chaos across the globe. The British Columbia farms are experiencing a supply gap due to the regulatory closures in the Discovery Islands two years ago. Farms in eastern Canada were expected to fill this gap but a string of storms in New Brunswick, Nova Scotia and Newfoundland forced most harvest activity to be canceled. And finally, several of the Chilean farms experienced a dramatic die-off due to algae blooms. The second largest supplier out of Chile is effectively off the market for the next eight weeks. These three macro factors contributed to swift increase in prices.

The good news is that we expect the British Columbia farms to be back in full production February 1st. The major producers in that area are working to smooth out their harvest cycles but this takes multiple years. Last year the gap was eleven weeks and this year it is down to four weeks.

Northern Fish’s strategy of maintaining a wide supply base has resulted in almost no supply disruption to our customers.

Steelhead, Norway (Farmed) – Product is available, and pricing is stable. The whole fish size is running between 8 to 10 lbs.

King Salmon (Farmed) – Supply of Creative™ Farm Kings is stable.

Manila Clams –Primary harvest areas are Willapa Bay and North Puget Sound.

Oysters – Capital oysters are back in stock. Shucked product remains in steady supply.