Lobster Prices Fall Futher

Portland Press Herald:

"The wholesale price of Maine lobster, considered low all summer, has plunged more than 20 percent in the past week to as little as $2.60 per pound in some harbors. Dealers say falling financial markets have ruined consumers' appetite for luxury items such as lobster, and the international credit crisis has effectively shut off orders from major processors in Canada.

Those and other factors undercut demand just as Maine entered its peak lobster season – and as fishermen are paying near-record prices for fuel and bait."