As January drew to a close most benchmark softwood lumber commodity prices
continued flat, staying on-trend to the waning weeks of 2024.
Conversations circled around the repeated threats of tariffs. Some operators
chose to veer on the side of caution, making plans only one-week out. While
others maintained their usual habit of buying, or selling, up to three weeks
into the future. Harsh weather across large parts of the continent continued
to keep construction projects slow, as well as causing transportation
delays. Industry players were happy to see a stability of price trend
materializing, as the graphs on this page indicate; 2025 started out at
almost the exact same level as 2024.
This makes it much easier for companies to plan their coming spring buying
and selling activity than it was during the extreme volatility of 2020 to
2022.
In the week ending January 31, 2025, the price of Western Spruce-Pine-Fir
2×4 #2&Btr KD (RL) was US$445 mfbm, which is flat from the previous week,
said weekly forest products industry price guide newsletter Madison’s Lumber
Reporter.
That week’s price is down -$13, or -3%, from one month ago when it was $458.
Compared to the same week last year, when it was US$442 mfbm, that week’s
price was up +$3, or +1%. Compared to two years ago when it was $394, that
week’s price was up +$51, or +13%.
KEY TAKE-AWAYS:
Despite ongoing mentions of tariffs, a growing subset of Western S-P-F
purveyors in the United States returned to business-as-usual.
US producers maintained lead times in the range of one- to three-weeks,
while their counterparts north of the border kept to a one-week-at-a-time
approach.
Both primary and secondary suppliers in Canada were more open to
counteroffers, indicating weakening demand.
Eastern Canadian sawmills kept Eastern S-P-F offerings to a minimum in view
of potential tariffs.
Stateside reloads remained comparatively busy, with plenty of inbound
Canadian material heading into their tariff-protected yards.
Sawmills across all Southern Yellow Pine zones showed buildups of
bread-and-butter items amid weak seasonal demand and scattered availability.
Oriented Strand Board prices started to tick up while that of plywood
continued to soften.
MADISON’S BENCHMARK TOP-SIX SOFTWOOD LUMBER AND PANEL PRICES: MONTHLY
AVERAGES
Source:
madisonsreport.com
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