September has waned, and as this autumn dawned North American construction framing dimension softwood lumber prices levelled off.
The downward corrections into summer’s end reversed to close September up slightly. Indeed; current levels were almost even to the start of this year as well as closely matching the same weeks last year and in 2023.
This is a return to historical price trend, with regular swings up and down throughout the year as construction increases then slows down for winter.
Ongoing questions by industry folks over the past two years of what are the new price highs and lows seem to be answered.
This year the annual price cycle ranged by approximately $160 mfbm, providing good price stability for operators.
In the week ending September 26, 2025, the price of benchmark softwood lumber item Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was US$430 mfbm. This was flat from the previous week when it was $430, said weekly forest products industry price guide newsletter Madison’s Lumber Reporter.
That week’s price was down -$71, or -14%, from one month ago when it was $501.
While the North American lumber market showed marginal improvement, players noted these were solely due to limited supply and not related to better demand.
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KEY TAKE-AWAYS:
- Suppliers of Western-SPF in the United States reported sales only marginally improved.
- Western-SPF sales in Canada gained traction on perception that prices had bottomed out.
- Large national producers were able to extend their sawmill order files and refuse most counteroffers.
- Eastern-SPF sellers had their heads on a swivel, with weakening prices, tight availability, and low field inventories.
- Last-minute purchasing was still common as buyers had gotten used to finding what they needed for quick shipment with ease.
- Southern Yellow Pine commodities firmed as mills held their prices steady and didn’t chase counters as stridently as in September.
- Supply accumulations were mostly cleaned up, SYP suppliers had leaner inventories.
- Eastern stocking wholesalers were frustrated there wasn’t much time for autumn construction before snow starts to fly.
Madison’s Benchmark Top-Six Softwood Lumber and Panel Prices: Monthly Averages
