Fish Futures
- Thread starter BMK
- Start date
in some cases a frozen fish is better than a fresh fish at your butcher store.
Salmon from e.g. Norway is a huge business around here, not surprised there's derivatives for it. Farmed salmon has to a large degree replaced traditional fish since there's none of that left in the Baltic sea. Ironically, a lot of the fishing for the little fish remaining is aimed at providing fish meal for feeding the salmon.
Farmed salmon from Norway is the worst salmon possible and one should not eat it.
And farmed raised salmon meat is grey.
To make it pink or red….dye is used to color the meat. Think about this after you buy that pretty farm raised red salmon at your favorite store.
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There's like 5 levels of salmon.
The best is Copper River Alaskan King, Wild Caught, Salmon.
The kind you buy in cans and at a lower, cheaper, packaged price elsewhere is horrible quality.
Similar to traders....the bests are free-minded and free spirited, wild caught. While the mass produced, dime-a-dozen, social media and common folk traders get nowhere are the cans and packaged salmon. Farm raised.
I don't dispute that it's not quality (wasn't aware of the dye part but I know that the quality is much lower than wild salmon), nontheless people eat it.
It's not frozen fish. The futures contracts are based on an index that tracks the spot price of fresh salmon in Norway. But settlement is cash, so you don't get any fish LOL
To answer your question about who would want to buy or sell such a contract...
Commercial fishing operations. Or maybe a large high-end restaurant chain or distributor. Anyone that wants to hedge against volatility in the price of fish.
Just like large agricultural operations use corn and wheat futures...
Maybe that's why it's a cash settled contract with no physical delivery.
But there is a market for fresh fish LOL I think it gets shipped around the world in refrigerated containers. Or bought by canning operations located near the coast where the fish is caught.
Someone else in this thread commented about how "canned fish that you buy at the grocery store" is very low quality. And I would certainly agree that most of the canned "pink salmon" that is sold at relatively low prices in supermarkets in the USA is pretty low quality fish.
But there is a whole world of very high quality, gourmet, artisanal tinned fish, and some of it sells at very high prices, sometimes with guarantees that the fish is canned within a very short period of time after being caught--say, for example, eight or twelve hours--and never frozen.
Here's one example of such a product:
https://caputos.com/product/fangst-...n-flash-grilled-in-cold-pressed-rapeseed-oil/