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(NECN: Marnie MacLean, Portland, Maine) - It's been a mix of good news and bad news for Maine's fishing industry this week.
Shrimp fishermen learned their entire season has been canceled because of dwindling shrimp stocks. Meanwhile, scallop fishermen are getting record prices for their catch in this first week of the season.
State regulators say scallop fishermen are bringing in $13 a pound for scallops caught in Cobscook Bay in Downeast Maine.
Those high prices are helping to offset reduced catch limits designed to help rebuild the stock.
In the coming weeks, the competition for scallops could get rougher as shrimp fishermen who also hold latent scallop licenses activate their licenses to catch scallops.
The Department of Marine Resources is bracing for as many as 500 license holders to fish in the 70 day season. Regulators say if too many scallops are harvested, it may have to resort to emergency closures of some areas along the coast.