Alaska crab buyers and suppliers are wondering what to make of this season. They’ve already seen record high prices for king crab caused by a nearly 50 percent reduction in quota coupled with a lack of snow crab at the start of the 2012 season due to some of the worst ice conditions in decades.

Larger-sized kings were selling in the mid-USD 9 range two years ago, and between USD 15 and USD 16 last year. This year, prices topped USD 20 a pound all season, with the latest price reports showing …