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Category: Weekly Softwood Lumber Blog

Canada Lumber Manufacturing & Sales, Exports vs Softwood Lumber Prices: April 2019

Canada Lumber Manufacturing & Sales, Exports vs Softwood Lumber Prices: April 2019

Lumber production in Canada increased by +18.7% from February to 5,528.3 thousand cubic metres in March, said Statistics Canada in the latest data release June 5. Production was -5.3% lower than in March 2018. Sawmills shipped 5,145.1 thousand cubic metres of lumber in March, up +15.7% from February and -2.1% lower than in March 2018. Canada exported -13% less lumber to the world in March 2019 compared to February, said Statistics Canada Tuesday. Lumber exports to the US were down…

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US Housing Starts: May 2019

US Housing Starts: May 2019

Total housing starts in the US posted a -0.9% decrease in May, to 1.269 million units, compared to an upwardly revised April estimate of 1.281 million units, according to the joint data release Tuesday from the US Census Bureau and HUD.Relative to May 2018, total starts are -4.7% below the annual pace of 1.332 million units.  Single-family production in May posted a monthly decline, decreasing -6.4% to a seasonally adjusted annual rate of 820,000. Single-family starts in April were revised up…

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Softwood Lumber Sales Explode on More Major Sawmill Curtailments

Softwood Lumber Sales Explode on More Major Sawmill Curtailments

After inexplicably wallowing in the doldrums for 2019 so far, North America wholesaler softwood dimension lumber prices reversed spectacularly last week. US housing starts for May, released Tuesday morning, were relatively stable compared to April. Potentially helpful to players seeking understanding of current market conditions, prices quoted for the July contract of softwood lumber futures on the Chicago Merchantile Exchange crested over US$400 mfbm on Tuesday. Currently futures are at a $25 premium to cash (print) prices.Benchmark North American construction…

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CoreLogic US Homeowner Equity Insights: 1Q 2019

CoreLogic US Homeowner Equity Insights: 1Q 2019

According to CoreLogic’s US Home Equity Report, released Monday, only about 4.1% of homeowners with mortgaged properties, which represent about 63% of all US homes, were underwater as of the end of 1Q 2019. In 1Q 2019, the total number of US mortgaged residential properties with negative equity decreased -1% from 4Q 2018 to 2.2 million homes, or 4.1% of all mortgaged properties. On a year-over-year basis, negative equity fell -11% from 2.5 million homes, or 4.7% of all mortgaged properties,…

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Softwood Lumber Supply-and-Demand Corrects On Further Sawmill Curtailments

Softwood Lumber Supply-and-Demand Corrects On Further Sawmill Curtailments

The latest announcement of major sawmill curtailments Monday, this time with Canfor making production cuts at all its facilities, caused a complete reversal of lumber futures prices on the Chicago Merchantile Exchange. It will be very interesting to see what happens with cash prices this week. Madison’s Lumber Reporter print is Friday mornings; this week prices are likely to at least stop falling if not to actually increase. The latest North America sawmill capacity utilization rates, for March, released by…

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

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

The latest issue of the Western Wood Products Association’s monthly Lumber Track, for January-March 2019, shows a +0.4% increase in US softwood lumber production volume, to 8,634 mmfbm. January – March softwood lumber production in Canada continued dropping by -8.6%, to 6,382 mmfbm, compared to the first three months of 2018 when it was 6,985 mmfbm. In British Columbia, lumber production continued significant reductions begun around 2017, in Jan – March plunging another -14.7 per cent, to 2,684 mmfbm, from…

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US FHFA House Price Index History vs Softwood Lumber Prices: 2007 – March 2019

US FHFA House Price Index History vs Softwood Lumber Prices: 2007 – March 2019

The US Home Price Index, released by the Federal Housing Finance Agency (FHFA), rose at a seasonally adjusted annual rate of +1.3% in March, following the +5.3% increase in February. On a year-over-year basis, the FHFA Home Price NSA Index rose by +5% in March. It was the lowest annual growth rate since January 2015, confirming the slowdown in home price appreciation. Home price appreciation continued to slow in March. See Full Details Here: https://madisonsreport.com/2019/05/29/us-house-prices-march-2019/ Softwood Lumber Prices as Indicator of US…

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Softwood Lumber Prices Slide Downward as More Sawmill Closures are Announced

Softwood Lumber Prices Slide Downward as More Sawmill Closures are Announced

Confusion reigned only more last week in the North America construction framing dimension softwood lumber market as demand was very soft for what is normally the big home building season in the US. This week major producers announced further permanent closures and curtailments for British Columbia sawmills; due both to high log costs while lumber prices are low and to lack of future timber supply as a result of the mountain pine beetle infestation and the 2017 wildfires. A wildly…

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US Spending on Residential Improvements: March 2019

US Spending on Residential Improvements: March 2019

According to the US National Association of Home Builders, Americans spend more than US$200 billion on home improvements each year. The most recent data from Construction Spending showed that spending on residential improvements fell to a seasonally adjusted annual rate of US$173 billion in March 2019, down by -3.1% over February estimate, and was -14.1% lower than a year ago, said the NAHB Eye on Housing blog May 14. Residential Improvement Spending has experienced weakness after reaching the peak of US$216.7 billion in April…

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Madison’s Lumber RETROspective: 1952-1973

Madison’s Lumber RETROspective: 1952-1973

This weekend Madison’s was contacted on FaceBook by one of founder Peter Madison’s children. His youngest daughter found an old copy of the printed Madison’s Canadian Lumber Directory and sent us this photo: As we exchanged happy messages (Hi June! — ed) it occurred to Madison’s that we haven’t been promoting the fun Madison’s Lumber RETROspective: 1952-1973, which we did in 2010 to celebrate the 60th anniversary of this great Canadian newsletter: https://madisonsreport.com/interactions/ A 60 year walk down forestry’s memory…

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