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Category: Weekly Softwood Lumber Blog

Madison’s Forest Pulse: 3Q 2019

Madison’s Forest Pulse: 3Q 2019

North America Forest Fibre Flow Update: 3Q 2019Overview November 8th, 2019 “It will become clear after Labour Day if North America construction framing dimension softwood lumber prices are going to soften further, as they usually do in autumn, or if buyers and sellers have indeed found a new floor. — Madison’s Forest Pulse July 13, 2019 This was the last line of our update in the previous issue of your Madison’s Forest Pulse. Thankfully, the horrible price drops for North…

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CN Rail Job Action: Midnight Monday?

CN Rail Job Action: Midnight Monday?

About 3,200 Canadian National Railway conductors, trainpersons, and yard workers could go on strike just after midnight tonight if a deal isn’t reached with the company, said Canadian Press Monday morning. The Teamsters Canadian Rail Conference, the union representing the employees, gave the required 72-hour notice on the weekend. The union says it hopes to reach an agreement before the deadline to address safety and scheduling issues, but workers are prepared to walk off the job if their expectations aren’t met….

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BC Government Invests $27 million to Increase Use of Forest Residuals

BC Government Invests $27 million to Increase Use of Forest Residuals

It is widely acknowledged that in British Columbia the utilization of forest residue (wood fibre leftover after timber harvesting) is very low compared to most other jurisdictions. In the past, the cost of moving this cumbersome, oddly-sized material compared to the easy availability of further timber stands, has been the reason for so much of the previously-called “wood waste”. Madison’s has long written that this residual forest fibre in BC is not “waste”, nor an impediment, but rather is an…

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Benchmark Softwood Lumber Prices Flat, Some Specialty Items Soar

Benchmark Softwood Lumber Prices Flat, Some Specialty Items Soar

A couple of weeks ago it was panel (OSB and plywood) prices that saw spectacular rebounds, this week Douglas fir green 2×4 prices recovered back to one-month-ago levels. A strong undercurrent of sales activity allowed US sawmills to keep most of their prices flat from last week as many buyers couldn’t avoid coming back to the table repeatedly to keep their inventories from bleeding dry. Customers were looking to other solid wood commodities besides benchmark Western Spruce-Pine-Fir KD 2×4 #2&Btr…

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North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: Aug 2019

North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: Aug 2019

After flattening out last month, the latest issue of the Western Wood Products Association’s monthly Lumber Track, for January-August 2019, shows US softwood lumber production volume continues almost flat from the same time last year, to 23,737 mmfbm. Like last month, January – August softwood lumber production in Canada continued big drops through most of this year, falling another -11%, to 16,655 mmfbm, compared to the first eight months of 2018 when it was 18,664 mmfbm. In British Columbia, brutal…

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Global Heating Wood Pellet Demand: Current and Projection

Global Heating Wood Pellet Demand: Current and Projection

The size of the global wood pellet market for 2019 was estimated to be valued at over US$8.5 billion, and is estimated to exhibit over 10% CAGR from 2019 to 2025, said Global Markets Insights October 2019. Over 22 million tons of wood pellets were shipped globally in 2018, up 21% from 2017. The US, Canada, Vietnam, Latvia, and Russia, accounted for 69% of global exports in 2018. Demand for imported pellets in Japan and South Korea continued a three-year…

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Madison’s Western SPF Lumber Prices Nov 7: sneak preview

Madison’s Western SPF Lumber Prices Nov 7: sneak preview

The full Madison’s Lumber Reporter North America softwood lumber price list will be updated as usual first thing Friday morning Eastern time, however here is a sneak peak at benchmark WSPF prices: After jumping another +$18 last week, The price of benchmark softwood lumber item Western Spruce-Pine-Fir KD 2×4 #2&Btr stayed flat this week, Nov 7, 2019, at US$396 mfbm, from US$396 mfbm last week. — Madison’s Lumber Reporter This week’s lumber market story published to the website Wednesday: https://madisonsreport.com/2019/11/05/softwood-lumber-prices-pop-higher-as-seasonal-winter-slow-down-looms/…

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US Construction Job Openings, Construction Spending: Sept 2019

US Construction Job Openings, Construction Spending: Sept 2019

Data released Monday from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings in the US increased in September 2019 on a year-over-year basis. The estimated number of job openings declined from the August total to 338,000 in September, after reaching a post-Great Recession high of 434,000 in April. The September 2019 count of unfilled jobs represents a year-over-year gain relative to the 299,000 estimated unfilled construction jobs in September 2018. The US construction job open position…

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Softwood Lumber Prices Pop Higher as Seasonal Winter Slow-Down Looms

Softwood Lumber Prices Pop Higher as Seasonal Winter Slow-Down Looms

Veteran solid wood processors and sellers like to say, “Labour Day is the beginning of the end, and US Thanksgiving is the end of the end” for large-volume lumber sales. The business of manufacturing and distributing North American construction framing dimension softwood lumber is directly tied to US home building and remodelling activity. As darkness and bad weather looms across the continent, construction jobsites start to close down. Well aware of this annual cycle, sawmills tend to load up their…

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US Housing Share of GDP: 3Q 2019

US Housing Share of GDP: 3Q 2019

After declines for six consecutive quarters, the home building component of gross domestic product (GDP) in the US increased during 3Q 2019. This gain was due to the housing rebound that has taken hold since the spring, with the pace of single-family permits rising since April and the rate of single-family starts increasing since May. The overall housing share of GDP in the US increased to 14.6% during 3Q 2019, as GDP growth slowed to a 1.9% rate. The home…

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