Diamond Jewelry Forums

Picture Gallery

Video Gallery

|

Search |

Posted Today |

Most Active |

Help

ť Home ť

ť Pricescope café ť

ť Hangout ť

ť Great Lobster Mystery: Food prices are soaring. So why are prices for the delicious crustacean falling?

Great Lobster Mystery: Food prices are soaring. So why are prices for the delicious crustacean falling?

P: 8/19/2008 3:15:33 AM
rockzilla Ideal Rock Total Posts: 1,107 Last Post: 11/18/2009 Member Since: 11/19/2006	http://www.slate.com/id/2196990/ Recent Slate article. Lobster going for $5.50 a pound (okay, in Maine, but still) Maybe sheds some light on todays thread-that-will-be-unnamed? =) Quote: "Based on my intensive investigations, it seems that prices for both the commodity (lobsters sold on the docks) and the finished product (steamed lobsters sold at dockside restaurants) are lower than they've been in past years. In a seafood store in downtown Portland, a pound of lobster ($5.49) went for pretty close to what I had paid for a gallon of gas in Connecticut the day before ($4.30). A few years ago, the pound-of-lobster-to-gallon-of-gas ratio would have more like 4-to-1. Our hosts welcomed us with two-pound lobsters that cost less than a pound of steak." =) RZ
Posted: 8/19/2008 3:15:33 AM

There are 13 replies to this message. There are 13 replies on this page.

P: 8/19/2008 6:06:12 AM
violet02 Ideal Rock Total Posts: 2,167 Last Post: 11/18/2009 Member Since: 9/5/2007	I'm not sure if this applies to my story but I was just talking to my FI tonight about a co-workers camping trip this past weekend... apparently he brought 25 lobsters to grill and there were less than 25 people there. I was like wow, how was he able to buy so many aren't they pricey? My FI said something about him buying them in bulk? I don't know... I thought it was weird though and then I see your post about cheap lobster!
Posted: 8/19/2008 6:06:12 AM

P: 8/19/2008 6:56:21 AM
Maisie Ideal Rock Total Posts: 7,769 Last Post: 11/24/2009 Member Since: 12/30/2006	Can you believe I am 37 years old and have never tasted Lobster?
Posted: 8/19/2008 6:56:21 AM

P: 8/19/2008 10:43:06 AM
absolut_blonde Ideal Rock Total Posts: 804 Last Post: 11/24/2009 Member Since: 1/6/2008	It might be cheaper at the stores (haven't checked lately) but it's definitely not cheaper in the restaurants here! We celebrated our anniversary last month and the lobster on the menu was $.
Posted: 8/19/2008 10:43:06 AM

P: 8/19/2008 10:47:28 AM
neatfreak Ideal Rock Total Posts: 13,478 Last Post: 11/25/2009 Member Since: 2/17/2007	Makes sense to me...the first things people cut out in an economic crisis are "fancy" foods. Demand falls and so the price falls to try and compensate for the lost sales. If they can't sell a lobster at $10/lb they either have to literally eat their losses or sell it for less... Just basic economics at work here.
Posted: 8/19/2008 10:47:28 AM

P: 8/19/2008 10:47:45 AM
*DeeJay** Ideal Rock Total Posts: 6,491 Last Post: 9/23/2009 Member Since: 3/26/2006	My husband grew up in New Hampshire and he's amazed and appalled at what lobster costs here in the midwest. When he was a kid lobster was "poor people food" in his neck of the woods!
Posted: 8/19/2008 10:47:45 AM

P: 8/19/2008 10:55:01 AM
IndyGirl22 Ideal Rock Total Posts: 1,638 Last Post: 10/17/2008 Member Since: 9/16/2007	Date: 8/19/2008 10:47:28 AM Author: neatfreak Makes sense to me...the first things people cut out in an economic crisis are 'fancy' foods. Demand falls and so the price falls to try and compensate for the lost sales. If they can't sell a lobster at $10/lb they either have to literally eat their losses or sell it for less... Just basic economics at work here. Bravo neatfreak! I hated drawing out those curves for Economics class! We are not self-employed. ~ Gen. Petraeus in response to a question of how he would advise the next President on Iraq.
Posted: 8/19/2008 10:55:01 AM

P: 8/19/2008 12:53:15 PM
Dancing Fire Ideal Rock Total Posts: 10,227 Last Post: 11/24/2009 Member Since: 4/3/2004	we have a chinese restaurant in town that serves a 1.25 lb Maine lobster over noodles for $13 it is always harder to find a "mind clean" stone than a eye clean stone.
Posted: 8/19/2008 12:53:15 PM

P: 8/19/2008 1:00:54 PM
sumbride Ideal Rock Total Posts: 3,867 Last Post: 1/21/2009 Member Since: 2/17/2006	That makes me want to go to Maine! if only I could afford the gas to get there... Stopping for lobster on the side of the road was the highlight of my last trip there. YUM.
Posted: 8/19/2008 1:00:54 PM

P: 8/19/2008 1:10:58 PM
fleur-de-lis Ideal Rock Total Posts: 929 Last Post: 11/24/2009 Member Since: 4/25/2007	Date: 8/19/2008 10:47:28 AM Author: neatfreak Makes sense to me...the first things people cut out in an economic crisis are 'fancy' foods. Demand falls and so the price falls to try and compensate for the lost sales. If they can't sell a lobster at $10/lb they either have to literally eat their losses or sell it for less... Just basic economics at work here. Hmm, great observation. I guess it's related, but over the last few years I've been noticing our regular filet mignon creeping up from $22.99 a pound to $26.99 to most recently $30.99; you can imagine my surprise last week when I went to a run-of-the-mill grocery store and saw it on sale for $5.99/POUND! (Having seen so many complaints and news stories about rising gas and food prices, I figured that the newly budget-conscious had stopped picking it up altogether.) f-d-l
Posted: 8/19/2008 1:10:58 PM

P: 8/19/2008 9:01:54 PM
neatfreak Ideal Rock Total Posts: 13,478 Last Post: 11/25/2009 Member Since: 2/17/2007	Date: 8/19/2008 1:10:58 PM Author: fleur-de-lis Date: 8/19/2008 10:47:28 AM Author: neatfreak Makes sense to me...the first things people cut out in an economic crisis are 'fancy' foods. Demand falls and so the price falls to try and compensate for the lost sales. If they can't sell a lobster at $10/lb they either have to literally eat their losses or sell it for less... Just basic economics at work here. Hmm, great observation. I guess it's related, but over the last few years I've been noticing our regular filet mignon creeping up from $22.99 a pound to $26.99 to most recently $30.99; you can imagine my surprise last week when I went to a run-of-the-mill grocery store and saw it on sale for $5.99/POUND! (Having seen so many complaints and news stories about rising gas and food prices, I figured that the newly budget-conscious had stopped picking it up altogether.) f-d-l Hehe, that's what I get for being in a Public Policy Ph.D. program, LOTS of economics. Certainly a nice time to have a bit of extra cash though, since food staples are so expensive the "fancy" stuff is a steal!
Posted: 8/19/2008 9:01:54 PM

P: 8/19/2008 9:07:18 PM
Miranda Ideal Rock Total Posts: 4,042 Last Post: 9/24/2009 Member Since: 2/18/2006	Yum yum! I'll have to go eat some lobster! I wish I could find it for $5.50. It's pricey here in restaurants, too.
Posted: 8/19/2008 9:07:18 PM

P: 8/19/2008 9:52:06 PM
FrekeChild Ideal Rock Total Posts: 12,931 Last Post: 11/25/2009 Member Since: 12/14/2007	:::packing up shoes to move to Maine::: _______________________________ "Women are either goddesses or doormats." Pablo Picasso "In all matters of opinion, our adversaries are insane." Mark Twain
Posted: 8/19/2008 9:52:06 PM

P: 8/20/2008 9:12:12 AM
GoingCrazy29 Cut Rock Total Posts: 360 Last Post: 11/4/2009 Member Since: 6/19/2008	Here is a great article in Newsweek about this very topic: http://www.newsweek.com/id/154042 ETA: I realized it was the same article that Rockzilla originally posted, just on another site. Whoops- SORRY! ~~We got married August 29, 2009!~~
Posted: 8/20/2008 9:12:12 AM

Previous Page

Next Page

Ť New forum member here! Ť

ť Wierd aspect of Pricescope? ť

Jump to:

Contact Us \| Back Home \| Privacy Statement \| Forum Agreement \| Forum Policies
Ideal BB Version: 0.1.5.4.beta1	Message forum software powered by the Ideal BB

Pricescope - Knowledge - Diamond Prices - Tools - Resources - About

Š 2000-2009 Pricescope. Terms of Use Privacy Policy Disclaimer
forum archives