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Recession Special: Lobster at Lunch-Meat Prices? Yes, Please!

Fishermen in Nova Scotia are fed up because lobster prices have fallen so much, they’re now being paid the same price as bolognaat the supermarket for their catch.

Lobsters
Photo by: Keven Law
Lobsters

At $3.50 to $4 a pound for their catch, it’s not even worth it to take the boat out some days, Ron Heighton, president of the Northumberland Fishermen’s Association, told the Chronicle Herald newspaper.

*Gulp*Did he just say no more lobster?

Oh, contraire!

For consumers accustomed to bad news in this recession, the lobster tank is half full: You can eat like a king for deli-counter prices.

At Osterville Fish Market in Cape Cod, lobster fell as low as $5 a pound around Christmas, down 50% from the $10 it sold for in recent years. Though, they’ve started to creep back up, selling between $7 to $9 a pound, depending on the size of the lobster.

Paul Dean, owner of the Osterville market says the low prices are spurring demand among the locals.

“When we put a sign out that says lobsters $4.99, people were cleaning them up as fast as we could stock the tank!” he said.

And, at $6.99, that’s still “a steal” Dean said — it’s the price per pound for American cheese and ham at the deli. But, he cautions, get ‘em while they’re cheap — these prices aren’t going to last forever.

So, tourists take note: If you’re planning a trip to Cape Cod this summer, make sure you order the lobster.

There may be a recession going on, but right now, you’re king of the sea.

Jimmy, put down that bologna and cheese sandwich. We’re having lobster tonight!

Calling All Funny People:

Sick of "green shoots?" Me, too! We've got to come up with a better term. Send your suggestions to ponyblog@cnbc.com. We'll publish the best ones this week and vote on them. Read my initial rant on green shoots to get you going. Ready ... Aim ... Shoot!


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Questions? Comments? Write to ponyblog@cnbc.com.

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