The group consisting of 150 fishermen met Wednesday in Barrington to chart a future path.
Retired fisherman James Mood says the main purpose is to get better pricing and have better representation when dealing with the Department of Fisheries and Oceans.
Mood says members of the new association have decided not to sell any lobsters for less than $5.50 a pound.
He says the new pricing will take effect by midnight next Tuesday, when fishermen will hold their catch until they get what they are demanding.
Mood says the unnamed association has to work through a regulatory process to be formally recognized by the federal department.