Seafood Market

5/16/22

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) – Volumes out of Westport, WA have increased causing a welcome decline in price. Volumes are expected to maintain throughout the month of May.

▲ Refresh Sockeye Salmon (Wild) – Refresh product is available now. Pricing and availability are stable.

Refresh Coho Salmon (Wild) – Frozen at Sea and refresh product is available now. Product is from Haida Gwaii, formerly known as the Queen Charlotte Islands, off the coast of British Columbia (BC).

▲ Wild Halibut – The wild Alaskan Halibut season is ongoing. Halibut pricing has settled into somewhat of an equilibrium. We expect prices to rise in concert with holidays.

▲ Rock Fish – Supply is steady. Primary catch area is British Columbia.

▲ Dover Sole – Supply is steady. Primary catch area is Oregon Coast.

► True Cod – Supply is limited. Expect pricing to remain elevated. Customers are encouraged to look at our IQF fillets from the Bearing Sea as a more consistent alternative.

► Ling Cod – Supply has improved somewhat. Ling Cod is being harvested as bycatch from the ground fish fleet. Primary catch area is Neah Bay, WA, and Astoria, OR.

▲ Black Cod – Supply is steady. Alaska and Washington are producing on a regular basis. Sizing is running on the smaller side with very few fish available above 4 pounds in J-cut form.

▲ Dungeness Crab – Frozen Dungeness section (aka clusters) prices have adjusted lower as large volumes of eastern Canadian snow crab flood the market. This reduction has not materialized in crabmeat products as the labor market continues to hamper production across the industry. Northern Fish does, however, expect significantly improved capacity over the shortages of last summer. Customers should contact their sales rep about opportunities to grab market share this summer.

▼ Razor Clams – The price to the harvesters now sits at roughly double last year’s price. The demand from the live market has contributed to an already strong demand from the bait market. We not anticipating any fresh or frozen razor steaks (meat) in the near future.

AQUACULTURE

Atlantic Salmon (Farmed) – The Atlantic salmon market experienced meaningful price declines across all sizes. We expect prices to lower again next week. We are somewhat concerned with the sheer magnitude of the price changes both up and down. This volatility tends create uncertainty with end users. Please contact us for options to stabilize customer salmon costs over longer time horizons.

Steelhead, Norway (Farmed) – Product is available, and pricing is stable. Customers are encouraged to do a side-by-side comparison with farm raised product from the Columbia River.

King Salmon (Farmed) – Supply of Creative™ Farm Kings will be constrained through mid-June. The producer has indicated that they need to slow down the harvest rate to let the fish reach market size. Primary harvest area is British Columbia.

Ora™ Farm Kings are available on a limited basis at a much higher cost. Our recommendation is for customers to move to farm raised Norwegian Steelhead.

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

► Oysters In-Shell – Supplies are limited due to major shutdowns in Canada. Please check the availability of bed specific oysters daily. Non-bed specific oysters have a more stable supply. Primary harvest areas are Willapa Bay and Puget Sound