IFQs & Federal Fisheries

October 27, 2023

Halibut quota continued to move this week. Last week, we sold 1,600 pounds of unfished 3ACB sold at $25.00/lb. This week, we sold 4,700 pounds fished 3ACB at $28.00/lb and 3,200 pounds 3BCB at $21.00/lb. These prices are remarkably low compared to the last few years, though, and some sellers are opting to hold off for better conditions rather than sell at these prices.

In Japan, the price of 4-5 pound black cod has fallen by nearly half, from $14.67/kg at the end of 2022 to $8.00-9.00/kg now.

ADFG closed some groundfish areas in PWS to longline gear by emergency authority, due to the rockfish GHL being exceeded. 

In Pacific cod news, NMFS closed directed pot cod fishing for Pcod in the GOA Central Regulatory Area yesterday. Accordingly, ADFG closed the Cook Inlet Area Pcod parallel fishery to pot cod vessels as well. The parallel fishery is still open for longline vessels under 50' and the state waters fishery is open to jig gear. 

NMFS issued the first quota shares in the Pacific Cod Trawl Cooperative (PCTC) Program. For more information, read NMFS' bulletin here.

The statewide sablefish TAC is 57% harvested, with AI at 10%, BS at 50%, CG at 64%, SE at 74%, WG at 67%, and WY at 82%. The statewide halibut TAC is 81% harvested, with 2C at 85%, 3A at 87%, 3B at 85%, 4A at 61%, 4B at 39% and 4C/4D at 72%. See the full report here

We expect to see a lot of the sablefish TAC left on the bottom this year, due to extremely low ex-vessel prices, market disruptions, and increased operating costs.