US harvesters of Atlantic scallops (Placopecten magellanicus) wrapped up 2024 with a low volume of landings. They brought in just 66,012 pounds to the seafood auction in New Bedford, Massachusetts, in week 52 of 2024 (Dec. 23-29).

Again, a large number -- 47,869 lbs (73%) -- were small scallops, size 20-30, Undercurrent News found in its review of landings at the auction, more formally known as the Buyers and Sellers Exchange (BASE). The largest sizes, U-10s and U-12s, combined to account for 2,628 lbs (4%), while 10-20s accounted for 15,515 lbs (24%). 

As many as 58,691 lbs (89%) of the scallops landed came from Closed Area II (CA2), which was closed Aug. 15-Nov. 15 to reduce the bycatch of northern windowpane and Georges Bank yellowtail flounder. 

Of course, the period was interrupted by both Christmas (Dec. 25) and Hanukkah (Dec. 25-Jan. 2) celebrations. By comparison, week 51 (Dec. 16-22), tallied 506,849 lbs of scallops, as reported by Undercurrent.

Average prices were still high for big scallops last week, but down a bit from the week before. The average dock price for U-10s during week 52 was $46.35/lb, down from the average $50.04/lb seen the week before, while the average for U-12s was $46.19/lb, down from the $50.37/lb average seen during week 51.

The average paid for 10-20s climbed to $25.51/lb from the $24.17/lb seen during week 51, while 20-30s fetched $15.88/lb, down from the $17.22/lb seen earlier.

The chart below from the UCN price portal shows average prices for all of the different sizes of scallops landed at BASE over the past year, so you can compare the trends side by side and observe the spread between larger- and mid-sized scallops.

BASE is one of the best places to monitor the US scallop season. It handled about 63% of the 25.0m lbs projected to land during the 2023-2024 season. Scallops are also landed in the US states of New Jersey, Virginia and North Carolina.

'Firm pricing' anticipated in near term

Lorin Castiglione, UCN's head of price reporting for the Americas, noted the slowdown in her latest report on wholesale prices for scallops.

"Holiday-related slowdowns have curtailed much of the trade activity in week 52, leaving US scallop prices mostly steady even as underlying market pressures persist," she noted. "Limited availability of 10/20s has fueled a shift toward 20/23s, nudging those prices closer to levels historically seen for the larger sizes."

She continued: "Although rising replacement costs continue to elevate overall inventory expenses, these price adjustments may help moderate immediate buying activity and stretch available stocks of bigger scallops. Most industry participants still anticipate firm pricing in the near term, supported by constrained supplies and ongoing demand."

Her average wholesale price for a 10-20 was $20.25/lb, lower than dock prices, while 20-30s were fetching an average $19.00/lb, she reported.

The reduced supply has continued to put pressure on scallop imports in the US, she added. However, there's been trouble with the two largest source nations: Canada and Japan.   

"Early reports from [Canadian] areas George’s A and George’s B suggested decent-size assortments and catch volumes. However, conditions deteriorated as the season progressed, with scallop growth and catch rates falling short of normal patterns and triggering concerns about the state of the resource," Castiglione noted.

Also, in Japan, there are reports that some processors are holding onto their stocks until after the New Year, restricting immediate availability.

December was better than expected

The US National Oceanic and Atmospheric Administration (NOAA) updated its overall landings table again last week, showing that more than 14.1m lbs of scallops were landed by the limited access commercial fleet between April 1, the beginning of the 2024-25 season, and Dec. 26. That's 58.13% of the 24.2m annual projected landings (APL).

Harvesters landed 511,692 lbs during the first 26 days of December, showing it not to be the worst month of the season so far, as earlier predicted. However,  through the first nine months of the 2023-24 season, limited access fleet harvesters had landed 20.1m lbs (93.20% of their 21.6m lb APL).

CA2, overall for the season, has accounted for 6.2m lbs landed during the current season -- 44% of the total -- while the New York Bight, the other limited access area has produced 3.2m lbs (23%) and the open access areas, where the highest volume of scallops have been found in past years, accounted for 4.7m lbs (33%).

BASE records for every size over past 12 months

Here's a more thorough breakdown of scallop landing prices by size.