A Message from Red Lake Fisheries to all Tribal Anglers
To all tribal anglers:
2016 fishing season was a little slower than we had hoped. As a whole Red Lake Nation Fisheries still had a decent year with a projected net income of $255,000. This was accomplished through a couple different strategies:
We streamlined our processing by using industry standard best practices and by purchasing or reconditioning our processing equipment.
We dropped our cost per pound processing expenses significantly over the previous management.
We controlled our Market presence through choosing to whom and how we sold our walleye. By using only a few distributors we could keep our competitive advantage (better tasting walleye) to keep the price per pound at the level we desired.
The walleye market is strong with a steady demand curve and the supply curve was lower on the premium sizes that go to market from Canada. We capitalized on this by ensuring our prices were consistent with the supply/demand curve.
All of these strategies helped to get us in the financial position we are in today to be able to do an end of season distribution to our tribal anglers who brought in walleye during the 2016 fishing season.
Anyone who brought in Walleye to the fisheries will receive at least a $25 check. Everyone who brought in 250 lbs or more of Walleye will receive a check that equates to just under 12 cents per pound brought in by each angler. We unfortunately did not hit our quota this year which prevented us from reaching our goal of $500K in profits. Next year we may have to start netting sooner in the season to ensure we reach our quota for the health of both the fisheries business as well as the lake.
Thank you for your help with our successful season,
Fishery Board, Fisheries Management and Corporate
Adrian Beaulieu, James Roy, Gregory Good, Rudy Johnson, Douglas Desjarlait, Carolyn King, James King, William King, Gary Martin Sr., Russell Brenny, Justin Beaulieu, Harvey Roy III, John Shimkus