Lobster prices high, but dropping as summer approaches

PORTLAND, Maine (KGO) -- Lobster prices are high in the U.S. right now, but members of the industry expect them to come down soon as the summer haul gets going.

One-pound lobsters are selling to consumers for about $12 per pound, which is a couple of dollars per pound more than six months ago. The U.S. lobster industry is in a slow mode as fishermen get ready to pull traps in the summer.

The lack of fishing effort and high prices have caused some in the seafood industry to raise the possibility of a shortage, but industry members say quite the opposite is true. They say Canada's spring fishing season is just starting to heat up, which means prices are already starting to track back down.

The U.S. industry is based heavily in Maine.