Aquatic/Fishing Industry Snapshot

Lobster

• Catch has reportedly been good for most lobstermen. Profitability has generally been good, with stable pricing.   

Scallops

• Scallops: The 2024-25 scallop season has been tough for fishermen. Pricing has improved, but open area landings continue to decline along with the lack of large scallops caught. Of the YTD landings 46% are 10-20 and 38% of landings are 20-30 size class, plus overall landings have declined.
• The 2025-2026 Fishing Year is 99% determined with the decision from the New England Marine Fisheries Council to grant 24 open Days-At-Sea, an increase of 4 days, and two closed area trips of 12M lbs. (Area I and Area II) – a reduction of 12M lbs.  
• We can expect more stress to scallop operations’ cash flow in 2025.

Groundfish

• Pricing and catch has been stable over the prior year. Quota measures from NOAA have decreased catch limits in a few sectors while others remain flat year over year.