Price of Lobster Lowest Since 1970s

The current price of lobsters in the Northeast are the cheapest they've been in 40 years thanks to a mild winter that accelerated lobsters' life cycles, according to a WCVB report.

Lobstermen in Maine are reportedly being offered less than $2 a pound for their daily hauls. WCVB reports the price hasn't been that low since the 1970s.

The contributing factor in the near-historic lows, according to experts who spoke with WCVB, is that a mild winter in the Gulf of Maine lead lobsters to molt earlier than usual. Experts say more lobsters than usual are out to feed, leading to sizable hauls, but not profits, for lobstermen.