Desperate lobster fisherman are selling cheap lobsters by the side of the road, undercutting an already weak market for the luxury seafood item, according to recent accounts. An Atlantic article, "The Mystery of Cheap Lobster Prices," explains that the crash of the Icelandic banking system and subsequent closing of Canadian packing plants is to blame for the flood of lobster that's currently hitting the market. With nowhere to unload their excess catch, lobstermen are putting too much lobster on the market, which is resulting in lower prices.
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The H-E-B Store at Bunker Hill had a Father's Day special on lobster at $5.99 a pound. It's currently charging $11.99 a pound, but the lady answering the phone in the seafood department said to watch for another lobster special soon. You should also start seeing some sweet deals on lobster in Houston restaurants as the summer progresses. I plan to eat lots when the price is right.