Illex argentinus, our old friend the Argentine shortfin squid, is not looking so good this year. To recap: the fishery crashed in 2009 and rebounded somewhat in 2010. Now it's down again at the beginning of 2011:

Argentina's fisheries yields showed a dramatic drop of almost one-third in the first two months of the year . . . The highest recorded landing in the period was for hake with 16,850 tons, which is 19.1 percent less than the same period a year ago. Squid followed with 5,696 tons, 69.8 percent less than in the first two months of 2010, with 18,859 tons.

So they're catching less than a third as many squid as they caught last year. We don't know enough about the biology of the species to be certain of the cause, but:

Officials expressed concerns in the past that overfishing could affect overall yields of fish and other marine animals in Argentine waters. Fishing industry lobbies have complained of lack of government incentives amid aggressive competition from foreign fishing fleets. . . .
Guillermo de los Santos, president of the Chamber for Jigger Fishing Shipowners of Argentina, blamed foreign fishing fleets. He said around 17 Chinese and 15 South Korean ships with fishing licenses from the Falkland Islands were "catching very little but, more importantly, destroying stocks of the resource."

Um, I'm not really sure what that means. If they're catching so little, how are they destroying stocks?

In any case, it doesn't bode well for the future of Illex . . .