Getting Festive: Seafood Prices and Trends Ahead of the Holidays

Kick that pumpkin to the curb and break out those Christmas lights. It’s time to trade the candy corn for candy canes! The holiday season is upon us, and Catch the Current is diving into the festivities as hosts Amanda Buckle and Lorin Castiglione join forces with the Undercurrent News price reporting team to discuss the state of select seafood markets as we approach this magical time of the year.

Santa may be saying “Ho, ho, oh no…” when he sees the bill for the Feast of the Seven Fishes this year!

Thank you to our sponsor: Wisefish.

Subscribe now! Catch the Current is available on YouTube, Spotify, Amazon Music, iHeartRadio, Pandora, and other major podcast streaming platforms. Don’t see Catch the Current on your favorite app? Reach out to [email protected].

Economic Insights for the Holiday Season

As we move past Halloween, Amanda and Lorin sit down to set the scene for one of seafood’s biggest retail opportunities. Their discussion kicks off with insights from the National Retail Federation (NRF), which recently released its annual consumer survey. This year, the NRF found that consumers plan to spend an average of $890.49 per person on gifts, food, decorations, and other seasonal items. This amount marks a slight decrease from last year’s record of $901.99.

Out of the total budget, approximately $627.93 is earmarked for gifts, leaving about $262.56 for seasonal items, including food and decorations. NRF vice president Katherine Cullen noted that despite economic uncertainty, Americans are focusing their holiday spending on loved ones this year, although they are also on the lookout for sales.

Seafood Market Trends

So what does this mean for seafood? Let’s hear from the price reporting team.

As Gary Morrison highlights the potential impact of the Marine Mammal Protection Act (MMPA), which might restrict crabmeat imports starting January 2026, concerns arise. If implemented, this could affect 70-80% of crabmeat imports, particularly from Southeast Asian nations. Given that crab cakes are a staple holiday item, this change could lead to empty tables this festive season.

[Editor’s note: After this podcast was recorded, the US Court of International Trade granted a temporary stay on the upcoming MMPA rules.]

Exploring Alternatives

The conversation transitions seamlessly as Amanda questions consumer knowledge about the origins of their seafood. Many are unaware that their favorite holiday dishes may not feature the locally caught seafood they assume.

Now, to add to the holiday feast, Ben Fisher discusses the soaring prices of lobster. Even just the basic sizes have increased, with hard-shell lobsters now over $12/lb wholesale. And despite a potential dip in prices during Maine’s autumn haul, the overall costs remain steep, driven by high input costs for fishermen.

Even more alarming, the discussion shifts to scallops, known for their popularity during holiday gatherings. With thin inventories and high prices, buyers should brace for a tight supply of these prized items.

The Feast of the Seven Fishes

As the hosts reflect on the Feast of the Seven Fishes, both Gary and Ben emphasize creative cooking—whether it’s opting for tinned fish or new preparation methods—to adapt to rising costs. Amanda even mentions using surimi as an interesting alternative to traditional seafood dishes during the holidays.

Final Thoughts

With rising prices and tight supplies dominating the seafood market, consumers might need to get creative this holiday season. As festivities draw near, it’s time to explore different options that can still provide delicious meals without breaking the bank. And as always, for the latest seafood pricing and news, check out Undercurrent News.

Don’t forget our sponsors at Wisefish, who support seafood businesses across the spectrum from aquaculture to sales.

Comments (0)