1. Local lobstering had slowed to a crawl in March and early April. A lot of local fisherman pull their traps and head south for the winter. A few weeks ago a lot of guys started setting gear out again. The catch is starting to increase.
2. During the summer and fall, lobsters are placed into pounds and tubes to hold until the winter months when prices climb. Lobster pounds are entire bay's seperated from the ocean to keep lobsters. About a month ago, those resources had been depleted, causing there to be less product on the market - hence prices climb.
3. April 20 started the opening of the Canadian lobster season. As you can see from the chart above, Newfoundland was the first to open. Other areas will continue to roll out over the next few months. This will add more product into the market and you will see lobster prices continue to fall.
4. The local catch will start to increase. Soon shedders ( soft shell lobsters ) will start being caught causing a split in price between hard shell and soft shell lobsters. This is when you will see a sharp decrease in lobster prices. Just in time for summer.
That's it in a nut shell...
