If any of you run into a situation where you are confident that there is a glitch or exploit, please contact me directly via a forum DM and provide as much information as possible so I can inform the...
Ok so, I didn't see any post about this problem on the forums yet, so I thought I'd share.
I've noticed a bug that started occuring after the Post Pirate Edition patch, where " Fishing lures are now consumed immediately upon casting" was introduced. Whenever you hook a fish with the last lure in your inventory, the lure will be consumed but you will not get a fish, effectively wasting that lure. This happens with every last lure, and not just once every now and then.
Thanks for reporting this! It will be fixed in the next patch.