IFQ activity has certainly stirred back to life, largely concentrated in 3A sales. Last week saw quite a bit of unblocked 3A move around $29.00-$30.00. Our lowest asking price for unblocked 3A is $30.00 and our highest offer is $28.00, cash. This week, blocked 3A C class sold between $23.00-$23.75, and we have an offer of $23.00.
As expected, the combination of poor economic circumstances, weak markets, and high costs has brought quota prices down across the board. For those with capital, it has presented an opportunity to average down their investment costs, or to get in at a more accessible price point. Unfortunately, high interest rates are still putting off buyers who'd require financing to purchase quota.
In fisheries news, the pollock A season opened by regulation on January 20th. In Kodiak, the fleet voluntarily stood down until today, in order to minimize early bycatch.
In case you missed it, the IPHC wrapped up their annual meeting last week. For a full report, click here.
The next NPFMC meeting starts next week and runs February 5-12. There's still a few hours left to submit comments - the deadline is noon on February 2. Red king crab closure areas in Bristol Bay, Tanner crab protections, harvest specs for Cook Inlet salmon, pelagic trawl gear, and more will all be hashed out. If you care about any of these things, please submit a comment, or testify in-person or online!
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