Halibut/Sablefish | November 01, 2022
IFQ November 2022
At the time of this writing, approximately 79% of this year’s halibut TAC has been landed, with greater than 20% of area allocations yet to be harvested in 3B, 4A, 4B, and 4CD. Ex-vessel prices have weakened slightly. The latest fishing reports have indicated slow fishing in areas 3A and 3B, and improved fishing in area 4CD. Sales activity has been minimal. Supply, particularly for 3A, is high. IFQ asking prices have steadily declined due to reduced demand and increased availability. We expect sales activity to be slow through the end of the year, with most buyers content to wait for IPHC recommendations before making offers.
At the time of this writing, approximately 63% of the sablefish TAC has been landed. Landings are over 70% in all areas, with the exception of AI still at only 13%. Quota sales remain limited, with only a few sales in recent months. Supply continues to outpace demand, resulting in relatively stagnant prices. The next factor to influence the market will be the council recommendations in early December.