From The AP via EconomPic Data: The cost of lobster in Portland is down to $3.49/lb.
The primary factor, a drop-off in demand by penny-pinching diners, has been in place since summer. But a secondary problem recently surfaced: the global banking crisis left Canadian processors short on credit, trapping Maine lobstermen and dealers with too much supply.
Holy crap. Maine’s economy is screwed (I also had no idea that we were depending on Canada to process our lobster).