Lobster glut in Maine drives down prices

July 4, 2012 11:24:13 AM PDT
The price you pay for shrimp could be going up.

Gulf coast shrimpers say they seeing their worst catches since the huge oil spill two years ago. Many of the fishermen aren't sure they can stay in business.

But in Maine, lobstermen have the opposite problem -- a glut, which is actually driving down prices.

It's still early in the fishing season.

For now, the excess supply in main has driven retail prices to under $4 a pound for the smallest of the soft shell lobsters. Larger lobsters and those that still have hard shells are more expensive.