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Madison's Lumber Reporter

Madison's Lumber Reporter

The Source for Canadian and U.S. Construction Framing Softwood Lumber and Panel Prices

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by Madison's Lumber Reporter on January 20, 2021

Most Softwood Lumber Prices Stay Flat as the Supply-Demand Balance is Reached

Madison's Softwood Lumber Benchark green and KD Construction Framing Dimension Softwood Lumber Prices JAN 2021
madisonsreport.com

As mid-January 2021 came upon us, it seemed like supply and demand for softwood lumber and panel products reached an equilibrium. Almost all prices were flat, except the 2×8 sizes which dropped somewhat.

Players agreed that this current lull could indicate a new level of asking prices at lumber producers and wholesalers. Field inventories with buyers were not at such emergency-low levels as they had been during almost all of 2020, but still no one was stocking up on supply as prices remained high compared to historical trends. The busy home building season is fast approaching; both Canadian and US housing starts data remains extremely rosy. Sawmills expect the usual spring rush of orders to arrive soon enough.
Softwood lumber prices seem to have experienced a peak in the first week of January, due to momentum from demand over the holiday break. By the second full working week of 2021 almost all softwood lumber prices were flat.

Inquiries quieted down last week as buyers pulled back from ordering while sawmills tried to keep prices firm. — Madison’s Lumber Reporter

Demand simmered down in the US Western S-P-F market last week as players compared lumber futures to current asking prices and decided to sit on their hands. Producers remained unworried, maintaining four- to five-week order files at their sawmills and easily selling enough volume each day.

Canadian producers of Western S-P-F lumber were confident that demand would perk back up after the current lumber futures contract expired. Sawmill order files were four or more weeks out.

Madison's Softwood Lumber Benchark green and KD Construction Framing Dimension Softwood Lumber and Panel Prices JAN 2021
madisonsreport.com

The supply-demand balance seemed to find an even keel in the second week of 2021, ending January 15, 2021, with benchmark softwood lumber commodity item Western S-P-F KD 2×4 #2&Btr prices staying flat at US$944 mfbm over the previous week, said Madison’s Lumber Reporter.
Last week’s price is +$292, or +45%, more than it was one month ago when it was $652.

Stocking wholesalers on the busy US Eastern Seaboard thought that the aggressive ascent in prices had perhaps come and gone. One thing was for sure in vendors’ minds however, this was a supply-driven rally; when usually the impetus comes from the demand side. Meanwhile, a large contingent of builders in the US Northeast were unwilling to start more construction jobs due to lack of materials, and of payment delays as credit lines stretch to breaking points. — Madison’s Lumber Reporter

Compared to the price one-year-ago, of US$402 mfbm, last week benchmark softwood lumber item Western S-P-F KD 2×4 #2&Btr was selling for US$944 mfbm which is +$542, or +135% more.

Madison's Historical Softwood Dimension Lumber Price Comparison Table JAN 2021
madisonsreport.com

The above table is a comparison of recent highs, in Sept 2020, and current January 2021 benchmark dimension Softwood Lumber 2×4 prices, compared to historical highs of June 2018 and compared to recent lows of Sept 2015:

Filed Under: Lumber News, Weekly Softwood Lumber Blog Tagged With: ADN.TO, building, canada export, CFF.TO, export development Canada, HomeBuilding, IFP.TO, lumber trade, madisons lumber reporter, NYSE: DHI, NYSE: HOV, NYSE: KBH, NYSE: LEN, NYSE: PHM, NYSE: RFP, NYSE: TOL, NYSE: WY, OSB.TO, SJ.TO, softwood lumber, Softwood Lumber Prices, trade, trade deal, trade forecast, TSE: IFP, TSE: WEF, TSE: WFT, TSE:ADN, TSE:CFF, TSE:OSB, TSE:SJ, US home building, us home construction, US home sales, us house inventory, US house prices, us housing, US housing starts, UShousing, WEF.TO, WFT.TO

by Madison's Lumber Reporter on January 19, 2021

North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: OCTOBER 2020

North America Softwood Lumber Production: OCTOBER 2020
wwwpa.org

Continuing the bumpy road through 2020, Canada’s sawmill capacity utilization rates dropped again in October while those in the US remained relatively flat.

Compared to one-year-ago, for January – October 2020 softwood lumber production in the US improved further over the previous year, up another +2.7%, says the latest issue of the Western Wood Products Association’s monthly Lumber Track. In the first ten months of this year, US lumber production volumes were 30,643 mfbm compared to the same time in 2019 when it was 29,838 mfbm. Looking at the month of October against September 2020, US softwood lumber production increased by +7.3%, at 3,225 mfbm in October compared to 3,005 mfbm for September 2020.
Last month’s update here: https://madisonsreport.com/2020/12/09/north-america-softwood-lumber-production-sawmill-capacity-utilization-wwpa-september-2020/
While still down, Canadian softwood lumber production for most of 2020 started to recover manufacturing volumes in the latter months of last year.
After reaching terrible lows for a large part of 2020, softwood lumber production in Canada recovered further in October. Manufacturing volumes were down -6.2% for the first ten months of 2020, to 19,184 mfbm, compared to January – October 2019 when it was 20,450 mfbm. Reversing improvements of the previous month, comparing the month of October to September 2020, Canada softwood lumber production dropped slightly, down by -1.4%, at 2,099 mfbm for October 2020 compared to 2,129 mfbm in September.

For British Columbia alone, sawmill production volumes for year-to-date 2020 fell yet further, down by another -11.2% to 7,412 mfbm, compared to January – October 2019 when it was 7,412 mfbm.

North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: October 2020

North America Sawmill Capaciaty Utilization Rates: OCTOBER 2020
wwwpa.org

US sawmill production as per cent of practical capacity for January to October 2020 continued, at 85%, as it was the previous month and in the first ten months of 2019, said the Western Wood Products Association’s monthly Lumber Track.
After improving from July to September Canadian sawmill production as per cent of practical capacity dropped back in October 2020, to 76% compared to September 2020 when it was 86% and compared to October 2019 when it was 79%.

Filed Under: Lumber News, Weekly Softwood Lumber Blog Tagged With: ADN.TO, building, canada export, CFF.TO, export development Canada, HomeBuilding, IFP.TO, lumber trade, madisons lumber reporter, NYSE: DHI, NYSE: HOV, NYSE: KBH, NYSE: LEN, NYSE: PHM, NYSE: RFP, NYSE: TOL, NYSE: WY, OSB.TO, SJ.TO, softwood lumber, Softwood Lumber Prices, trade, trade deal, trade forecast, TSE: IFP, TSE: WEF, TSE: WFT, TSE:ADN, TSE:CFF, TSE:OSB, TSE:SJ, US home building, us home construction, US home sales, us house inventory, US house prices, us housing, US housing starts, UShousing, WEF.TO, WFT.TO

by Madison's Lumber Reporter on January 14, 2021

North American Softwood Lumber Annual Price Cycle Explained

North America construction framing dimension softwood lumber and panel prices used in Canadian and US home building. Explanation of the seasonal cycle for softwood lumber buying as well as investment the sawmills need to make for their feedstock — log supply and inventory.

Filed Under: Lumber News, Weekly Softwood Lumber Blog Tagged With: ADN.TO, building, canada export, CFF.TO, export development Canada, HomeBuilding, IFP.TO, lumber trade, madisons lumber reporter, NYSE: DHI, NYSE: HOV, NYSE: KBH, NYSE: LEN, NYSE: PHM, NYSE: RFP, NYSE: TOL, NYSE: WY, OSB.TO, SJ.TO, softwood lumber, Softwood Lumber Prices, trade, trade deal, trade forecast, TSE: IFP, TSE: WEF, TSE: WFT, TSE:ADN, TSE:CFF, TSE:OSB, TSE:SJ, US home building, us home construction, US home sales, us house inventory, US house prices, us housing, US housing starts, UShousing, WEF.TO, WFT.TO

by Madison's Lumber Reporter on January 13, 2021

Madison’s Lumber Reporter: Softwood Lumber Price Data Explanation

North America construction framing dimension softwood lumber and panel prices used in Canadian and US home building. Explanation of the various products, including tables and graphs showing current prices against a historical perspective.

Filed Under: Lumber News, Lumber NewsFeed Tagged With: ADN.TO, building, canada export, CFF.TO, export development Canada, HomeBuilding, IFP.TO, lumber trade, madisons lumber reporter, NYSE: DHI, NYSE: HOV, NYSE: KBH, NYSE: LEN, NYSE: PHM, NYSE: RFP, NYSE: TOL, NYSE: WY, OSB.TO, SJ.TO, softwood lumber, Softwood Lumber Prices, trade, trade deal, trade forecast, TSE: IFP, TSE: WEF, TSE: WFT, TSE:ADN, TSE:CFF, TSE:OSB, TSE:SJ, US home building, us home construction, US home sales, us house inventory, US house prices, us housing, US housing starts, UShousing, WEF.TO, WFT.TO

by Madison's Lumber Reporter on January 13, 2021

Madison’s Lumber Reporter: January 11, 2021 Softwood Lumber Prices Update

Madison's Historical Softwood Dimension Lumber Price Comparison Table JAN 2021
madisonsreport.com

Compared to the price one-year-ago, of US$402 mfbm, last week benchmark softwood lumber item Western S-P-F KD 2×4 #2&Btr was selling for US$944 mfbm which is +$542, or +135% more.

Unstoppable demand over the Holiday Season pushed prices relentlessly higher, for the week ending January 8, 2021 benchmark softwood lumber commodity item Western S-P-F KD 2×4 #2&Btr prices rose to US$944 mfbm, which is up another +$70, or +8%, over the previous week, said Madison’s Lumber Reporter.
Last week’s price is +$324, or +52%, more than it was one month ago when it was $620.

Filed Under: Lumber News, Weekly Softwood Lumber Blog Tagged With: ADN.TO, building, canada export, CFF.TO, export development Canada, HomeBuilding, IFP.TO, lumber trade, madisons lumber reporter, NYSE: DHI, NYSE: HOV, NYSE: KBH, NYSE: LEN, NYSE: PHM, NYSE: RFP, NYSE: TOL, NYSE: WY, OSB.TO, SJ.TO, softwood lumber, Softwood Lumber Prices, trade, trade deal, trade forecast, TSE: IFP, TSE: WEF, TSE: WFT, TSE:ADN, TSE:CFF, TSE:OSB, TSE:SJ, US home building, us home construction, US home sales, us house inventory, US house prices, us housing, US housing starts, UShousing, WEF.TO, WFT.TO

by Madison's Lumber Reporter on January 12, 2021

New Year 2021 Starts Off With Rising Softwood Lumber Prices

Madison's Softwood Lumber Benchark green and KD Construction Framing Dimension Softwood Lumber and Panel Prices JAN 2021
madisonsreport.com

In the first full week back to work of 2021, the latest data of housing construction and home sales out of the US shows a marked increase over the previous year. The economic indicators for future home building, and remodelling, are rosy.

Macroeconomic conditions in the US remain murky, however there are two things that can be solidly stated even at this year part of the year: one is that home builders are reporting difficulty in finding lots for purchase. The other is that there is challenges finding additional workers to hire. Indeed, the latest US data release shows the 472,500 new residential construction jobs created from May through December 2020 offset the 456,800 jobs that were lost in April and May. As well, for full-year 2020, home building and remodelling added 57,200 net jobs in the US.
While it’s too early in the year to say where the lumber market will go, it can be assured that prices will not go down during 2021.

Lumber sales barely missed a step over the holiday break. As 2021 dawned, rail service got significantly worse.

— Madison’s Lumber Reporter
Madison's Benchmark Western S-P-F KD 2x4 #2&Btr softwood lumber prices: Decembers 2009 - 2020
madisonsreport.com

The traditional slowdown associated with the Holiday Season was much shorter and smaller in magnitude than in previous years, according to Western S-P-F purveyors in the US . Demand did not wane; producers boosted their asking prices by double digits or more.

Canadian Western S-P-F producers reported demand tapered off at the end of 2020, partially due to lockdowns and curfews in Quebec, so sawmills tried to focus on selling into the US market. However, persistent lack of rail car supply caused logistical headaches, pushing delivery times into mid-March. Sawmill order files were already into the first week of February.

MadiMadison's Softwood Lumber Benchark green and KD Construction Framing Dimension Softwood Lumber Prices JAN 2021son's Softwood Lumber Benchark green and KD Construction Framing Dimension Softwood Lumber Prices JAN 2021
madisonsreport.com

Compared to the price one-year-ago, of US$402 mfbm, last week benchmark softwood lumber item Western S-P-F KD 2×4 #2&Btr was selling for US$944 mfbm which is +$542, or +135% more.

Unstoppable demand over the Holiday Season pushed prices relentlessly higher, for the week ending January 8, 2021 benchmark softwood lumber commodity item Western S-P-F KD 2×4 #2&Btr prices rose to US$944 mfbm, which is up another +$70, or +8%, over the previous week, said Madison’s Lumber Reporter.
Last week’s price is +$324, or +52%, more than it was one month ago when it was $620.

Sales of Eastern S-P-F in Eastern Canada were comparatively slow to start the New Year but by Tuesday of last week business picked up. Although numb to sticker shock by this point, buyers nevertheless did double takes at more triple-digit price increases, as they assessed their bare inventories and calculated their next moves.

— Madison’s Lumber Reporter
Madison's Historical Softwood Dimension Lumber Price Comparison Table JAN 2021
madisonsreport.com

The above table is a comparison of recent highs, in Sept 2020, and current January 2021 benchmark dimension Softwood Lumber 2×4 prices, compared to historical highs of June 2018 and compared to recent lows of Sept 2015:

Filed Under: Lumber News, Weekly Softwood Lumber Blog Tagged With: ADN.TO, building, canada export, CFF.TO, export development Canada, HomeBuilding, IFP.TO, lumber trade, madisons lumber reporter, NYSE: DHI, NYSE: HOV, NYSE: KBH, NYSE: LEN, NYSE: PHM, NYSE: RFP, NYSE: TOL, NYSE: WY, OSB.TO, SJ.TO, softwood lumber, Softwood Lumber Prices, trade, trade deal, trade forecast, TSE: IFP, TSE: WEF, TSE: WFT, TSE:ADN, TSE:CFF, TSE:OSB, TSE:SJ, US home building, us home construction, US home sales, us house inventory, US house prices, us housing, US housing starts, UShousing, WEF.TO, WFT.TO

by Madison's Lumber Reporter on January 7, 2021

US Railcar Loadings: 2020

Total combined U.S. traffic for 2020 was 25,157,476 carloads and intermodal units, a decrease of -7.2% compared to last year.

North America Rail Traffic: Full Year 2020
US AAR

Total U.S. carload traffic for the first 12 months of 2020 was 11,482,059 carloads, down -13%, or 1,705,963 carloads, from the same period last year; and 13,675,417 intermodal units, down -2%, or 255,634 containers and trailers, from last year, said the Association of American Railroads Wednesday.

US Railcar Loadings, Lumber & Wood Products: DEC 2020
yardeni.com

U.S. railroads originated 1,101,324 carloads in December 2020, down -3.7%, or 42,666 carloads, from December 2019. U.S. railroads also originated 1,334,495 containers and trailers in December 2020, up +12%, or 145,126 units, from the same month last year.
Combined U.S. carload and intermodal originations in December 2020 were 2,435,819, up +4.4%, or 102,460 carloads and intermodal units from December 2019.

North America Rail Traffic: Full Year 2020
US AAR

Filed Under: Lumber News Tagged With: ADN.TO, building, canada export, CFF.TO, export development Canada, HomeBuilding, IFP.TO, lumber trade, madisons lumber reporter, NYSE: DHI, NYSE: HOV, NYSE: KBH, NYSE: LEN, NYSE: PHM, NYSE: RFP, NYSE: TOL, NYSE: WY, OSB.TO, SJ.TO, softwood lumber, Softwood Lumber Prices, trade, trade deal, trade forecast, TSE: IFP, TSE: WEF, TSE: WFT, TSE:ADN, TSE:CFF, TSE:OSB, TSE:SJ, US home building, us home construction, US home sales, us house inventory, US house prices, us housing, US housing starts, UShousing, WEF.TO, WFT.TO

by Madison's Lumber Reporter on January 6, 2021

US Housing Market & Softwood Lumber Prices: 2020

Benchmark Dimension Softwood Lumber and Panel Wholesaler Prices: December 2020

Madison's Historical Softwood Dimension Lumber Price Comparison Table DEC 2020
madisonsreport.com

A consistent bright point in the confusing US economy for 2020 has been real estate and the housing market. As February US housing starts and home sales data came out, it became clear that home building and buying activity was headed for quite an upswing. While the economic effects of the response to the global pandemic unfolded in the spring, by summer the buying and selling of real estate in the US really took off. Due to this, new housing construction responded likewise upward. Naturally, due to high demand, home sales and prices also bounced up markedly.

A report from the Federal Reserve Bank of New York released this week found that the median household expects to increase their spending by +3.7% in the next twelve months, the most optimistic outlook since 2016. The median listing prices grew at +13% over last year, marking the 18th consecutive week of double-digit price growth.

Unseasonably strong softwood lumber sales persisted in the last full sales week of 2020, as prices on virtually every commodity advanced again. For the week ending December 18, 2020 the price of benchmark softwood lumber commodity item Western S-P-F KD 2×4 #2&Btr rose another +$130, or +17%, over the previous week to US$874 mfbm, said Madison’s Lumber Reporter. That week’s price is +$278, or +47%, more than it was one month ago.

The USA purchases approximately 65% of Canada’s dimension lumber production mostly for home construction framing, while Canadian buyers account for about 10%, and those in Japan take 6%.

US Housing Starts & Benchmark Softwood Lumber Prices: 2018 – 2020

WSPF-SYP-ESPF-2x4 Softwood Lumber Prices-2year- US Housing STARTS: OCT 2020
madisonsreport.com

* Madison’s Lumber Prices, weekly, are a good forecast indicator of US home builder’s current lumber buying activity ——> DETAILS

Housing demand is strong entering 2021, however, the coming year will see housing affordability challenges as inventory remain low and construction costs are rising. Policymakers should take avoid increasing regulatory costs associated with land development and residential construction. — December 28, 2020

US National Association of Home Builders Chair Chuck Fowke

US New Home Sales & Benchmark Softwood Lumber Prices: 2018 – 2020

WSPF SYP ESPF 2x4 2year NEW sales Nov 2020
madisonsreport.com

Sales of new single-family houses in November 2020 were at a seasonally adjusted annual rate of 841,000, according to estimates released jointly Tuesday by the US Census Bureau and the Department of Housing and Urban Development. This is -11% below the revised October rate of 945,000 but is +21% above the November 2019 estimate of 696,000. The seasonally-adjusted estimate of new houses for sale at the end of November was 286,000. This represents a supply of 4.1 months at the current sales rate. The median sales price of new houses sold in November 2020 was US$335,300.

At the end of December 2020, US buyers of Western S-P-F softwood lumber commodities continued to scramble to find limited material. Even as business slowed down across much of the continent with the approach of the holiday break, demand was unseasonably strong due to a persistent lack of supply and depleted inventories. Producers of Western S-P-F lumber in Canada, meanwhile, raised prices of bread and butter items by another +$90 to +$162. Sales activity only intensified as Canadian buyers cleaned out every stick of lumber before any cash wood could hit the starved US market.                                                                

Madison’s Lumber Reporter

Benchmark Dimension Softwood Lumber and Panel Wholesaler Prices: December 2020

Madisons Lumber Reporter Weekly Price Chart: December 2020
madisonsreport.com

In order to be in a good position for tax reporting, sawmills want to empty their yards of manufactured wood products before year-end. Also they want to have their log yards stacked as full as possible. Because demand has been so consistently strong, which is very unusual for December, lumber suppliers have been quoting wood sales into January 2021. This with the accompanying increase in prices, of course. Customers, while reluctant, can do nothing but accept the higher price lists because none have been stocking inventory and there continues to be rush of real building projects to serve.

Filed Under: Lumber News

by Kéta Kosman on December 22, 2020

Madison’s Full Softwood Lumber Prices List: Sample

Softwood Lumber Prices Sample: Nov – Dec 2020

  • madisonsreport.com
  • madisonsreport.com
  • madisonsreport.com
  • madisonsreport.com
  • madisonsreport.com
Pages 1 of 5 – Sample of Madison’s Full Softwood Lumber Price List, all 440 individual commodity items: Nov – Dec 2020

Or to view file as a .pdf, click here: https://madisonsreport.com/wp-content/uploads/2020/12/MadisonsFullPriceListSample-copy.pdf

Attached is a 4-week sample of the full list of 440 individual softwood lumber and panel commodity wholesaler prices (net FOB sawmill) updated every Friday morning.

These prices updates are available weekly to Madison’s subscribers.

To view the historical price sheet and softwood lumber commodity prices regularly covered by Madison’s Lumber Reporter until now, please click this link to see an old sample: https://madisonsreport.com/wp-content/uploads/2018/07/mclr072718.pdf

Madison’s Lumber Prices: https://madisonsreport.com/products/madisons-reporter/

Filed Under: Lumber News

by Kéta Kosman on December 18, 2020

Madison’s Weekly Softwood Lumber Prices Snapshot: Year-End 2020

Madisons Lumber Reporter Weekly Price Chart: December 2020
madisonsreport.com

Unseasonably strong softwood lumber demand persisted this week as prices on virtually every commodity advanced again.

Madison’s Lumber Reporter would like to wish all our wonderful subscribers and contacts a very safe and Happy Holiday Season, we will be back in January with the latest updates!

#sawmill #softwood #lumber #ushousing #housing #building #construction #wood

Filed Under: Lumber News, Weekly Softwood Lumber Blog Tagged With: ADN.TO, building, canada export, CFF.TO, export development Canada, HomeBuilding, IFP.TO, lumber trade, madisons lumber reporter, NYSE: DHI, NYSE: HOV, NYSE: KBH, NYSE: LEN, NYSE: PHM, NYSE: RFP, NYSE: TOL, NYSE: WY, OSB.TO, RealEstate, SJ.TO, softwood lumber, Softwood Lumber Prices, trade, trade deal, trade forecast, TSE: IFP, TSE: WEF, TSE: WFT, TSE:ADN, TSE:CFF, TSE:OSB, TSE:SJ, US home building, us home construction, US home sales, us house inventory, US house prices, us housing, US housing starts, UShousing, WEF.TO, WFT.TO

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  • Most Softwood Lumber Prices Stay Flat as the Supply-Demand Balance is Reached
  • North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: OCTOBER 2020
  • North American Softwood Lumber Annual Price Cycle Explained
  • Madison’s Lumber Reporter: Softwood Lumber Price Data Explanation
  • Madison’s Lumber Reporter: January 11, 2021 Softwood Lumber Prices Update

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