Will More Lobsters Off the Coast of Maine Lower Prices?

Lobster lovers in northern New England have reason to celebrate. There is news out that suggest that lobsters will be more plentiful and maybe even a bit cheaper.

There's a story out on ABCNews.com that says lobsters are moving north and that their population off of the coast of Maine could be the largest ever.  Lobstermen in this area have had record breaking years recently. The lobsters seem to be seeking out the colder Gulf of Maine as waters to the south are seeing a rise in temperatures.

Prices have been climbing this summer due to these changes in the supply. Yankee Lobster Company in Boston currently has live lobsters priced at $9.99 per pound. A 2012 article in the Portland Press Herald reported that Maine supplied 75 to 80 percent of all the lobster consumed in the United States.