My take on P11 is that the weather has somewhat impacted how...

My take on P11 is that the weather has somewhat impacted how quickly the fish are growing. Earlier in the presentation, they do state 'survival was solid', but on P12 they state "Warmer water has impacted growing conditions for near term supply"

Couple this with the fact that they keep mentioning time at sea, and one would get the impression that they're harvesting fish earlier than ideal in the short-term to take advantage of a supply/demand imbalance. This is also backed up by the fact that they want to "rebalance sales channels" to obtain best margins.

Given the growing conditions were not great, yet they expect a "continued growth in earnings", I would think that the margin received for the fish currently well worthwhile, even though the company is harvesting fish earlier than ideal.

EDIT: I might also add that this really shows the company's dominant position. In the long term, they have large retail contracts to fall back on (retailers don't want huge variability in pricing, hence the contracts), but when supply/demand is in their favour, they can take advantage of pricing - should the contract be up for renewal that is.
Rare for a commodity business