My wife is from NewFoundland and we try to get there for squid season. Squid jigging there is quite the affair and one trip we came home with over 600 all in the 1lbs range. They get cleaned (pipped)on the boat ride home of the guts and tentacles then skinned back at home. The cartilage "backbone" is also removed. This leaves you with a meaty tube.
Newfoundlanders stuff the tubes with bread and seasonings and bake them, they also stuff with the same filling you'd stuff a cabbage roll with and bake in a tomato sauce...mmmmmmmmmmmm
many squid are also heavily salted then hung to dry. Often you will see shore communities with thousands of squid hanging on lines in yards. Quite the site http://www.mattstackle.co.uk/images/pro ... %20jig.JPG
these are the jigs we use, on a single hand line. Commercial jiggers will have hundreds of these on a reel line