Currently Most Standard Construction Framing Dimension Softwood Lumber
Prices Are Close To That Of One Year Ago.
The northern species 2x4s, Western and Eastern S-P-F, are slightly higher
than the end of May 2023. In the southern pine belt, Southern Yellow Pine
East Side 2x4s are $100, or 22%, below this time last year. There are
significant differences in the timber harvest and log availability, thus
prices, in the US south compared to the north of the continent, which
largely accounts for the different price movements of these species. Indeed,
benchmark studs item WSPF 2×4 PET studs are currently selling at exactly the
same prices as one year ago, at US$340 mfbm. Another good indicator of the
existing lumber market situation is panel; Plywood and Oriented Strand Board
prices. Benchmark panel item Canadian Softwood Plywood 9.5mm, or 3/8”,
Toronto at the end of May 2024 is close to the same
level as last year, while OSB 7/16” Ontario is up $215, or 55%, to C$630 msf.
Most of the other solid wood commodity prices have been relatively flat
since the middle of May, while this OSB price has been rising sharply.
As always, check back with Madison’s often to see what are the latest
changes and updates! Since 1952 we have been publishing all these prices
weekly.
In the week ending May 17, 2024, the price of benchmark softwood lumber item
Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was US$383 mfbm. This is flat
from the previous week when it was $383.
That week’s price is down -$47, or -11%, from one month ago when it was
$430.
The market adopted a pensive tone ahead of two upcoming holidays on either
side of the border. In the search for stable trading levels, most commodity
prices seemed to reach a bottom.
KEY TAKE-AWAYS:
Reports from the field indicated that supply was still outstripping demand
in most cases.
There was much tighter trading as sawmills had cleared out the bulk of their
accumulated prompt material.
Sawmill order files stretched into the two- to three-week range on many
items.
Buyers still showed no fear and no interest in speculative purchasing,
maintaining pokey interest and barebones inventories.
Panel mill (plywood & OSB) asking prices came off another point as
well-stocked buyers comfortably sat on the sidelines.
MADISON’S BENCHMARK TOP-SIX SOFTWOOD LUMBER AND PANEL PRICES: MONTHLY
AVERAGES
Compared To The Same Week Last Year, When It Was Us$360 Mfbm, The Price Of
Western Spruce-Pine-Fir 2×4 #2&Btr Kd (Rl) For The Week Ending May 17, 2024
Was Up By +$23, Or +6%. Compared To Two Years Ago When It Was $1,070, That
Week’S Price Is Down By -$687, Or -64%.
More Reports:
