Market Report

November 1, 2011

SALMON/TROUT

As the wild season winds down, premium Atlantic salmon from Scotland, British Columbia and Chile will be available.  While demand for Atlantics will certainly increase, adequate supply will keep prices stable. Greater production in Chile will likely create sloppy market conditions, thus raising concerns. Strict new regulations are in place to prevent another infectious salmon anemia (ISA) crisis like that occurred in 2007, but the fear now is lack of enforcement. Additionally new production in Chile was heavily financed. Lower price support has created a low profit margin for new producers, so look for some farms to be absorbed.  Seattle Fish Company is closely aligned with established, well-managed companies, ensuring amply supply.

Trout production will remain good for the winter. Cooler temperatures have the fish feeding again, and larger-sized fillets will be available. Prices have increased slightly this year, but trout remains an excellent value.

CATFISH

The ponds are brimming once again, and catfish is back.  In addition to catfish fillets, we carry skinless, head-off, whole catfish, and nuggets. Catfish is not just a retail item. Ask your sales rep how this well-priced morsel can increase your profits and keep customers happy. Return of catfish couldn’t come at a better time with Pangasius supply plagued with floods and other production issues.

WEST COAST

Halibut season is quickly coming to an end. Once again we will offer premium refreshed halibut as well as MSC frozen fletches. All frozen product comes from producers specifically freezing freshly caught fish for our winter use.

Groundfish supply is at the mercy of weather. Rock cod, shallow-water dover and Pacific cod have been a bit tight this week due to high winds and heavy seas, but expect amply supply by week’s end. Crab, on the other hand, will be in short supply due to quota cuts, and prices — especially for red king crab — will be at unprecedented highs. Supply of blue king crab from St. Matthews in Alaska and golden king crab may soften the blow. The opening price for Dungeness crab has also been very firm, a bad sign of things to come when the full West Coast season opens in December. The Mexican shrimp season is in full swing, and all sizes are available. Order a case or two from your Seattle Fish Company sales rep.

EAST COAST

Fall weather has finally come to the Northeast. Colder weather and the first of the season’s Nor’easters brought water temperatures into the 50s. Colder waters mean firmer, higher-quality seafood. Scallop landings have decreased the past two weeks, the fleet having used 75% of its open area days at sea. Most production is coming from closed areas I and II and Hudson Canyon. Prices remain firm and will stay that way throughout the winter. A very encouraging sign is showing up in the “recruitment class” number of scallop in areas being fished. Scallops, the size of a dime, are extremely abundant.  Conservation regulations and methods are working, protecting the resource and allowing it to thrive. More good news: the Nantucket bay season opens today. You can eat these sweet, succulent scallops like candy right out of the bag. 

East Coast groundfish prices remain weak due to lackluster buying interest, the exception being cod. Swordfish prices are starting to firm after a two-week buyer’s market brought favorable pricing.  Lobster prices remain stable, with buyer interest best described as dull. Lobsters will be a great holiday value, and Seattle Fish Company will supply all your needs.

SHELLFISH

Clams, oysters and mussels are abundant, and quality is excellent.  Try some Island Creeks — medium-sized oysters from Duxbury near Cape Cod — briny, clean and buttery; or Wianno — also from Cape Cod — sweet and briny, with high salinity. Other East Coast selections include Wellfleet, Tatamagouche, Stingray and Salutation Cove. West Coast selections include, Hama Hama from Hood Canal in Washington, with a firm, briny, mild finish; or Kumamoto — transported from the Kumamoto region of Kyushu, Japan — a small, deep-cup oyster with a mild, yet sweet flavor. If you want an oyster and we don’t carry it, ask your rep, and we can likely source it for your weekly special. Hard-shell clams from Dennis, Massachusetts, are clean, consistent, full of flavor and a great value. We carry all sizes.

GULF

Hurricane season is wreaking havoc with Gulf fishing. Tuna boats are reduced to short trips and small catch. Quality tuna has been very difficult to source due to a lack of domestic production, but we expect short-trip boats unloading this week in New Orleans. Our gulf selections will also include snappers and groupers from our “Gulf Wild” fishermen. Sustainability, adherence to catch shares, and the individual tagging of fish to show exact fishing location are three great reasons to ask your sales rep for Gulf Wild fish. Stone crab claws are showing up in Florida. Excellent early supply and better pricing than last year bode well for the Florida stone crab season. Mahi, ever so popular, is back for the winter season and will likely show up on menus.

GREAT LAKES

Fresh walleye and lake whitefish are available. Supply should remain steady as long as the lakes don’t completely freeze. We expect to have frozen walleye shortly.

HAWAII

Hawaiian Kampachi is back and better that ever. Supply will once again be available from Hilo, Hawaii and flown directly to Denver. A new feed program has ensured proper grow-out and a flavorful, fatty fillet. Seared Kampachi — the best! Ask your sales rep for details about adding Kampachi to your menu’ it’s offered exclusively by Seattle Fish Company. Quantity and pricing at the Honolulu auction is steady, and we should be able to secure a container later this week.

SUSTAINABILITY

Seattle Fish Company’s commitment to sustainability is resolute.  We have taken steps to ensure viability of the Mexican shrimp industry by asking our suppliers to commit to sustainable, improved fishing methods. We want our shrimp coming from boats using proper gear, including turtle excluder devices (TEDs) and bycatch reduction devices (BRDs). Regulations are in place, and many fishermen, not all, are compliant. Our goal is to receive shrimp from those in compliance and help force those who are not to be compliant in the near future. Buy seafood from Seattle Fish Company, your sustainable partner.

Regards,

Harry Mahlers

Harry Mahleres
Director of Purchasing

Harry@seattlefish.com
303.329.9595 ext. 121

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