Crab prices spike to $9 a pound in advance of Chinese New Year

As the Dungeness crab season reached the end of its peak this month, commercial crab fishermen saw a massive increase in what processors paid per pound. In Oregon and Washington, fishermen reported they were getting about $9 per pound. Some heard rumors that this could skyrocket to $11 right before Valentine’s Day. The season started in December at a negotiated price of $3.10 per pound, which later rose to $3.50 per pound, an increase over last year when fishermen saw prices of $2.62 per pound at the start of the season. By Christmas, fishermen were getting close to $4.50 a pound. Read the rest here 12:16