Revised biology and management of long-finned squid (Loligo pealei) in thenorthwest Atlantic

New biological information on the growth and life cycle of the long-finned squid (Loligo pealei) became available as ageing procedures based on statol iths were applied to this valuable commercial resource in the 1990s. It was found that L, pealei grew very rapidly and completed its life cycle in les s than one year. This research led to several important changes in manageme nt for the L. pealei fishery. First, biological reference points were devel oped for summer- and winter-hatched squid based on differences in growth an d maturation rates between seasonal cohorts. Second, a precautionary approa ch was taken toward determining the annual allowable catch and long-term po tential yield. The revised estimate of long-term potential yield of 21,000 metric tons (t) based on a life span of less than one year was less than ha lf of the previous estimate of 44,000 t, which was based on an assumed life span of roughly two years. Third, limited entry was applied to the commerc ial squid fishery because the stock was fully exploited on the basis of the revised estimate of long-term potential yield. The Mid-Atlantic Fishery Ma nagement Council has set the current annual domestic allowable harvest oil. pealei to equal the revised estimate of long-term potential yield, and in- season monitoring of landings and enforcement of the domestic allowable har vest level have been planned.