King Crab July 4 TH Sales in USA Market
It’s hard to believe, but the year is half over and the 4th of July celebrations are next weekend. The volume of king crab imported from Russian and Norway are about the same as last year, but prices are much better especially in the mid and small size crab.
A comparison between January and June is interesting. Urner Barry had prices on mid size red king crab as follows:
1/11/09 6/25/09
16-20 $8.70-$9.00 $7.95 - $8.10
20-24 $8.15 -8.35 $7.45 - $7.60
20 ups $7.75 - $8.00 $6.80- $7.00
Actual trading ranges now fall below these levels, but one can see the dramatic difference and compression of prices. Traders, and processors are quoting numbers significantly below these ranges to generate sales and promotions especially at retail. Whether prices will stay at these low levels is not known as some importers are now paying higher prices on bulk king crab apparently banking on a shortfall of Russian product later this year and a market recovery.