Figure 8
Inventory Exhaustion Calendar
When Urner Barry stops quoting NL snow crab: no quote = little product trading
Week 10
5-8 oz dark since Mar 9, 2026
Smaller sizes exhausted first this year
Week 12
8-Up still quoting Mar 19, 2026
Unusual — larger sizes outlasting 5-8s
NL 5-8 oz Section
The standard US market grade. Avg exhaustion: early March (week 10).
NL 8 oz & Up Section
Premium grade, scarcer supply. Typically exhausts before 5-8s — but not this year.
5-8 quoted
8-Up quoted
No quote (exhausted)
2026 still quoting
Future
Gaps in Urner Barry quotes are not missing data. They signal that inventory has been fully absorbed and no product is trading in the spot market. In most years, 8 oz & Up inventory exhausts before 5-8 oz because the larger sizes are a smaller share of production. This year the pattern is reversed: 5-8 oz went dark on March 9 (week 10) while 8 oz & Up is still being quoted as of March 19 (week 12). This unusual reversal suggests the front-loading pattern (Figure 8) depleted the smaller sizes more aggressively, while some residual 8-Up inventory remains in the channel. The broader signal is the same: the market is dry entering the new season, and prices rose through the pre-season confirming tight supply.
Source: Urner Barry NL Snow Crab Section 5-8 oz EBP and 8 oz & Up EBP, weekly Low quotes, 2015–2026