Lobster Is Now as Cheap as Lunchmeat

Thanks to a surplus of lobster, consumers can now purchase the delectable shellfish at a price similar to what they’d pay for Kraft Foods‘ (NASDAQ:KFT) Oscar-Mayer Bologna.

Maine soft-shell lobsters, which normally don’t make their way into traps until the Fourth of July, have arrived early this year. The abundance of the seafood often deemed a delicacy, has led to amazingly low prices, The Associated Press reports. In fact, some retailers in the Portland, Maine, area are selling lobster for less than $5 a pound.

The low price of lobster is a double-edged sword. It’s great news for lobster-lovers on a tight budget, but bad news for harvesters who are bringing in only about $3 per pound for their catches.