June Dawned Without The Usual Increase In Spring Demand For Construction
Framing Dimension Softwood Lumber, Thus Sellers Were No Longer Able To Hold
On To The Recent Steady Asking Prices.
Warnings from suppliers about extremely weak field inventories and the
possibility of shortages should sales volumes increase suddenly fell on deaf
ears. Customers remained extremely cautious in the face of so many unknowns;
weak new housing construction data, still-high mortgage lending rates, wars
and conflict globally, and confusing macroeconomic conditions. One positive
aspect was ongoing cool and wet weather in the northwest, giving stressed
forests a chance to retain moisture thus be better able to withstand
wildfires later this summer.
Otherwise, there were yet more announcements of sawmills curtailments and
even closures.
In the week ending June 07, 2024, the price of Western Spruce-Pine-Fir 2×4
#2&Btr KD (RL) was US$384 mfbm, which is flat from the previous week when it
was $384.
That week’s price is down up +$1, or 0%, from one month ago when it was
$383.
![](Lumber_prices_reports_weekly_20240607b.JPG)
Demand for North American lumber continued to meander at below
seasonally-typical levels of business. Sales of panels were particularly
powerless.
KEY TAKE-AWAYS:
Despite suppliers reporting steady day-to-day shipments, overall business
remained seasonally-subpar.
The standoff between supply and demand endured, as players wondering who
will blink first.
Nearly all bread-and-butter items showed vulnerability in terms of pricing;
purchasers backed off in hopes of more downward corrections.
Western S-P-F buyers maintained an overriding sense of caution.
Panel (plywood & OSB) wholesalers and distributors had an uneasy competition
going on, with secondary suppliers struggling for limited orders in very
tight price ranges.
MADISON’S BENCHMARK TOP-SIX SOFTWOOD LUMBER AND PANEL PRICES: MONTHLY
AVERAGES
![](Lumber_prices_reports_weekly_20240607c.JPG)
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 June 07, 2024
Was Up +$24, Or +7%.
Compared To Two Years Ago When It Was $660, That Week’S Price Is Down By
-$276, Or -42%.
More Reports: