By Madison's Lumber Reporter Lumber prices in
mid-July 2021 touched exactly where they were
one year ago, except last year they were moving
up and this year they were moving down.
Following a brief lull at a level US$760 mfbm
for two weeks, in the week ending July 16, 2021
the wholesaler price of benchmark softwood
lumber commodity item Western S-P-F KD 2×4 #2&Btr
dropped significantly. That week’s price of
US$555 mfbm is down by -$205, or -27%, from the
previous week, and is down by -$651, or -54%,
from one month ago when it was $1,206.
Compared to the same week last year, when it was
$554, that week’s price is up by +$1, or (0%).
Back in May 2021 when lumber prices reached an all-time-ever historical
high and stayed there for a few weeks, customers held off buying in
hopes that prices would go down. Now that, eventually, they have done
so, there is a not an insignificant amount of pent-up demand. At the
producers, the goal has been to plump up order files. Sawmills have been
willing to entertain steep counter-offers and sell at lower prices in
order to increase sales volumes and push production out by a few weeks.
“The market continued to search for a tradable bottom as most
buyers held off for another week.” — Madison’s Lumber Reporter
Western S-P-F producers in the United States had another week of
tough dealing according to personnel. Customers were relentless in
their pursuit of deep counter offers, knowing they were effectively
in the driver’s seat. Sawmills often capitulated to keep their wood
moving, and to compete with enterprising secondary suppliers who
enticed buyers with lower prices and quicker shipping schedules.
Producers cautioned their charges that summer shutdowns were coming
soon and now was the time to deal.
Western Canadian S-P-F sawmills slashed their prices again as
apathetic buyers continued to generate tepid demand at best.
Secondary suppliers stayed the course, aggressively chasing
customers and offering below-replacement prices to snap up business
before it got to the sawmills. Some mills reported the odd item or
tally with a two-week lead time, but there was plenty of promptly
available material for buyers who looked around.
“Demand in Eastern Canada started off the week at a
comparatively brisk pace as animated buyers pitted sawmills and
wholesalers against each other to get the best combination of price
and shipping time to cover their most pressing needs. Mills
continued to be open to counter offers but got less pliant as the
week progressed, which put a damper on demand when buyers simply
walked away.” — Madison’s Lumber Reporter
Compared to the price two years ago, when it was US$368 mfbm, for the
week ending July 16, 2021, the price of Western S-P-F KD 2×4 was up by
+$187, or +51%.
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