As July Drew To A Close The Past Long-Time Habit Of Cautious Buying
Seemed To Be Fading, As A Good Number Of Customers Got Off The Fence And
Made Substantial Lumber Purchases.
Demand for much of the North American solid wood commodities showed
improvement this week, particularly SPF lumber and studs.
Because there continued to be weak field inventories, even wholesalers and
reloads had to put their orders in at sawmills. This demand pushed order
files to between one and three weeks, which will make it easier for lumber
producers to reject counter-offers and might send prices higher. Given the
soft market and falling prices through most of the summer, the slight
firming of prices at the end of July suggested the bottom was reached.
Expectations are now that prices will either remain flat or increase onward
to Labour Day.
For the moment it looks like the price bottom has been achieved, and
surpassed.
In the week ending July 26, 2024, the price of Western S-P-F 2x4 #2&Btr KD (RL)
was US$348 mfbm, said forest products industry price guide newsletter
Madison’s Lumber Reporter. This is up +$18, or +5%, from the previous week
when it was $330.
That week’s price is down -$20, or -5%, from one month ago when it was
US$368 mfbm.
When compared to the same week last year, when it was $458, this week’s
price is down -$110, or -24%. Compared to two years ago when it was $684,
this week’s price is down -$336, or -49%.
In the week ending July 26, 2024, the price of Southern Yellow Pine East
Side 2x4 #2&Btr KD (RL) was US$365 mfbm. This is up +$15, or +4%,from the
previous week when it was US$340 mfbm.
That week’s price is up +$8, or +2%, from one month ago when it was US$358
mfbm.
When compared to the same week last year, when it was $425, this week’s
price is down -$60, or -14%. Compared to two years ago when it was $765,
this week’s price is down -$400, or -52%.
MADISON’S BENCHMARK TOP-SIX SOFTWOOD LUMBER AND PANEL PRICES: MONTHLY
AVERAGES
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