As fishermen across the state are reeling from the low sockeye prices (no pun intended), Trident announced a $0.20 all-in statewide price for chums, and their intention to stop buying salmon almost entirely on September 1, effectively cutting short the fishing season. They'll continue buying in Petersburg and Cordova South for their coho fisheries. Russia's massive pink harvest, which is being offloaded at very low prices, is being cited as a major factor driving Alaska's low salmon prices.

Amidst this, and as the pink salmon season nears its historical peak, Alaska's pink harvest isn't living up to the preseason forecasts. Statewide, current landings of pink salmon are at 63.3 million fish, about half of the forecasted season harvest of 122.2 million fish. In PWS, just over 30 million pinks have been landed, compared to a preseason commercial harvest forecast of 55.3 million fish. In Kodiak, where a strong harvest of over 26 million fish was forecasted, only about 6 million have been landed. In Area M, 3 million pinks have been landed, compared to the forecasted 9 million. Southeast offers brighter news, where the harvest to date of 21.5 million fish has exceeded the preseason forecast of 19 million fish.

Check out ASMI's Weekly Salmon Harvest Update through August 5 here.

The low salmon prices are almost certainly affecting the permit market. While it's still early, permit activity is relatively slow. With plenty of season left, we listed a Southeast drift EMT at $5,000 this week. We also listed Kodiak Tanner to 60' permits at $90,000 and $95,000. Last season, they sold between $70,000-$80,000. That season opens in January. Despite a strong Cook Inlet season, drift permits aren't flying off the shelves - yet! We still have an offer of $28,000, but sellers appear to be holding out for higher prices.