Severe winter weather continued across the continent into the beginning of
February, stalling both construction projects and transportation of building
materials.
As such, the prices of most softwood lumber commodities remained flat.
Indeed, this stable trend matched exactly where prices had been one year
ago. Industry players were pleased to see the recent market conditions
provided the ability to make plans for the upcoming spring home building
season. Some uncertainty remained, with variables like political decisions
about potential tariffs causing confusion among both Canadian and US
operators. However, the reality of the need for lumber was undeniable; for
both new housing construction and for rebuilding after disasters like fire
and storms.
While the next few weeks play out, industry will be able to see what level
of demand there will be as the weather improves.
In the week ending February 7, 2025, the price of benchmark softwood lumber
item Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was US$445 mfbm.
This is flat from the previous week when it was $445, said weekly forest
products industry price guide newsletter Madison’s Lumber Reporter.
That week’s price is flat from one month ago when it was $445.
Compared to the same week last year, when it was us$442 mfbm, the price of
western spruce-pine-fir 2×4 #2&btr kd (rl) for the week ending February 7,
2024 was up +$3, or +1%.
Compared to two years ago when it was $460, that week’s price was down -$15,
or -3%.
KEY TAKE-AWAYS:
Attitudes were low-key amid uncertainty regarding trade issues, negative
lumber futures, and inclement weather.
There was a burgeoning switch from SPF to SYP as buyers in the US explored
reduced reliance on imports from Canada.
Buyers and sellers remained uncertain about near-term business decisions
regarding purchasing and inventory management.
Most WSPF consuming regions experienced cold weather, slower transit times,
and meagre construction activity.
Canadian ESPF sawmills stuck to selling only what they could deliver ahead
of the new alleged tariff date of February 1st.
Southern Pine sawmills were chewing through their log decks amid wet weather
that made replenishing their fibre stocks challenging.
Overall supply with Eastern stocking wholesalers in New Jersey remained
tight while in relative balance with weak demand, supporting flat price
levels from suppliers.
MADISON’S BENCHMARK TOP-SIX SOFTWOOD LUMBER AND PANEL PRICES: MONTHLY
AVERAGES
Source:
madisonsreport.com
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