Currently, Northern Fish Products is seeing low salmon prices across the board. There is great value in high quality wild salmon to benefit the consumer. This is due to two things: abundant runs and a low export market.
We are seeing larger than average runs. Preliminary predictions for this year’s Sockeye run are expected to be the 3rd largest run since 1960. Bristol Bay is coming in right now and the numbers are huge. There are numerous factors that could have led to this, but the best guess is it’s due to favorable ocean conditions.
Secondly, since the dollar is so strong compared to the Euro and the Yen, less wild salmon is being exported leaving an abundant supply in the U.S. This is great for the U.S. consumer, but it hurts exports. Processors are reluctant to freeze inventory this year and are enticing consumers by offering lower prices and aggressive retail promotions. This means there’s a lot of fresh fish out there at a great value.