Lobstering and the economy

How much do lobstermen make?

Lobstering in Maine lately has been booming. Last year Maine lobstermen caught 100 million pounds of lobster, worth over 330 million. That number is split up between the thousands of lobstermen in Maine. The lobstermen receives a little over 3$ a pound for a lobster, which isn't bad but a few years ago they were receiving 4 or 5$ a pound. Successful, experienced lobstermen can make 60,000$ to over 80,000$ a year.

How much does lobster cost?

Lobster, depending on the season and how many lobsters are being caught is sold from 7$-15$ a pound. This price seems high but people traveling to New England are more then willing to pay that price. If you go to a restaurant the price will be even higher. It would over 20$ for a lobster a little over 1 pound, and even more expensive at a high end restaurant. People are still willing to pay that price because you can't get lobster like that everywhere. 

How much does it cost to go lobstering?

Lobstermen have a lot of expenses they have to pay before being able to receive a profit for there lobster. The lobster pots they use to catch lobsters cost about 50$ and they use hundreds of pots. Plus lobstermen say it cost them about 400$ a day just to untie there boat.

Where are the lobsters sold?

In Maine there are thousands of lobstermen going fishing everyday. Most of them work for a specific market where they bring all of their catch back to and sell it. These lobstermen usually own the market or are high in the ranks of the market. Other lobstermen sell there catch to seas food restaurants or groceries stores through the country, but most New Engand and the east coast.