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Hard working lobster fishermen in southwestern Nova Scotia had more to worry about Friday than gusty north west winds and choppy seas.

The price they're paid for their catch fell late Thursday to CAD 3 a pound – the lowest opening week price in a long time.

The local lobster season opened Tuesday and boats unloaded their first catches Wednesday.

“It started off at CAD 3.25 and it went down to CAD 3,” for Thursday's catch, one industry rep said Friday.

“We normally buy for three or four days,” said the lobster shipping source who confirmed, dealers then settle on a boat price, or the price the buyers agree to pay fishermen.

Friday's catch was expected to remain at CAD 3 per pound, said the source.

Another industry source in southwestern Nova Scotia said lobsters are very abundant and that's likely why the price dropped to CAD 3 after just one day.

“We've never seen this much lobster in the market before,” said Geoff Irvine of the Lobster Council of Canada.

Click here to read the full story from The Chronicle Herald >

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