Lobster prices are starting to drop

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HOLYOKE, Mass. (WWLP) – It was tough cold weather season for local fish markets, but finally lobster prices are starting to drop.

Schermerhorn’s Seafood in Holyoke has been in business for more than 100 years. They told 22News they’ve never seen lobster prices this high for this long.

Low demand driven by high prices and low supply driven by cold fishing waters. Schermerhorn’s said this coming week, the lobster beds should open up and prices should drop.

Michael Fitzgerald of Shermerhorn’s Seafood told 22News, “Lobsters have been very tough this winter. It’s been a tough winter. There hasn’t been a lot of lobsters around. It’s been a very cold March. Prices have really skyrocketed. We haven’t seen them this high for this long.”

Schermerhorn’s gets their lobsters from Maine and Canada. They say you could see prices come down by as much as five or six dollars.

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