Undercurrent News aims to provide accurate, transparent price assessments for the crab sector. These assessments will reflect key market trends and offer clarity for buyers, sellers, traders, and other participants within the supply chain.

All assessments listed here follow the IOSCO-aligned Undercurrent News Price Reporting Methodology, which provides transparency and clarity on data collection, pricing criteria, and assessment processes. For more details, please refer to our methodology principles.

Our methodologies are updated periodically to reflect the latest market standards and practices. When changes are made, subscribers will be informed through our regular publications and communications. Our market reporting team can address questions or provide additional guidance on methodology details or assessment-related inquiries. They can be contacted at [email protected].

Product Coverage and Specifications

Overview

Our crab market assessments cover various categories and product types. Products are categorized by species, processing type, and origin, providing detailed and segmented price reporting.

Categories

Pricing Structure

• Crab, Frozen: Prices are listed as ex-warehouse, representing the cost of goods available at the seller’s warehouse.
• Crab Meat, Pasteurized and Fresh: Prices are listed as ex-warehouse, representing the cost of goods available at the seller’s warehouse.

Transaction Size

All prices reflect less-than-truckload (LTL) volumes, which aligns with industry norms and provides a realistic picture of market values. Prices are stated in $/lb, the standard unit for crab and crab meat pricing.

Hierarchy of Data Collection for Price Assessments

Our methodology prioritizes data to ensure accuracy and market reflection:

• Verified Transactions: Independent, confirmed trades are prioritized to form the basis of our assessments.
• Market Bids and Offers: Validated bids and offers open to the market are considered.
• Supplementary Market Information includes relevant data on trends, related product relationships, and general market activity.
• Participant Price Evaluations: Where needed, we use general indications from experienced market participants to supplement transactional data.

Quotation Timing and Frequency

Publication Schedule

Crab prices are updated and published weekly on Wednesdays at noon EST to capture timely and accurate market shifts.

Daily Data Collection Window

Data is gathered daily from 8:00 a.m. to 5:00 p.m. EST, capturing current trading information to feed into upcoming assessments.

Terminology and Definitions

Key Terms

• 6-9 ct., 9-12 ct., …., 16-20 ct., 20/up ct.: Number of leg and claw of crab that make up a box. 
• 4 oz./up, 5-8 oz., …., 10oz./up: The weight (size) of snow crab cluster. 
• Cluster: several legs and one claw attached to a side of the body. 
• Ex-warehouse: International trade (INCO) term where seller makes product available at a designated location (warehouse), and the buyer is responsible for the transportation costs. 
• FOB (Free on Board): International trade (INCO) term where seller makes product available at a designated location (usually a port of shipment), and once loaded on vessel, the buyer is responsible for the shipping costs, insurance and liabilities. 
• LTL (Less-Than-Truckload): A standard transaction size in the seafood industry, enabling multiple smaller shipments to share transportation costs, which aligns with realistic market values.
• TL (Truckload): 40,000 pounds. 
• Pasteurized: Heat treatment that kills harmful bacteria and other pathogens enhances the product's safety. 
• Colossal swimming crab meat: The largest whole white meat pieces from the body connected to the swimming legs of the largest crab, placed unbroken.
• Jumbo lump swimming crab meat: Two large whole white meat pieces from the body connected to the swimming legs, placed unbroken.
• Super lump swimming crab meat: Large white meat from the body connected to the swimming legs, can encompass broken pieces from colossal and jumbo lump.