Into mid-September many of the ongoing questions were answered as North America construction framing dimension softwood lumber prices achieved a nice stable price trend over the past couple of years.
Since the great volatility and many big changes from 2020 to 2022, the regularity of lumber price trend lines are now much more clear.
From September 2023 to current week, the price high of benchmark Western S-P-F 2×4 was US$541 mfbm in March 2025, while the low was US$339 in July 2024. A $200 spread between high and low is a return to the historical range, as it was in 2019 and prior.
Now we head into the traditionally slower time of year for lumber sales. Unless something dramatic happens,
the next price increase cycle will be at the beginning of 2026.
In the week ending September 12, 2025, the price of benchmark softwood lumber item Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was US$420 mfbm. This was flat from the previous week when it was $420, said weekly forest products industry price guide newsletter Madison’s Lumber Reporter.
That week’s price was down -$81, or -16%, from one month ago when it was $501.
The lumber market was full of mixed signals as many players reported better inquiry while others lamented an ongoing malaise of slow demand.
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KEY TAKE-AWAYS:
- Western-SPF traders in the US described a value market, encouraged customers to cover short-term needs while prices were down and negotiable.
- In Canada, Western-SPF sellers reported a surge of inquiry and sales had materialized.
- Buyers agreed with recently lower prices thus bought in volume, so mills were able to clean up their inventories.
- Sawmills in the Pacific Northwest established order files in the two- to three-week range.
- Sales of Eastern-SPF to US buyers were fitful; mills were competitive on some items while others were priced out by the added Duty cost.
- In Southern Yellow Pine, commodity trading was uneventful as the market remained in a confused state of price discovery.
- There was plenty of SYP availabile among both primary and secondary suppliers.
- Stocking wholesalers on the US eastern seaboard had trouble moving product with any semblance of consistency.
Madison’s Benchmark Top-Six Softwood Lumber and Panel Prices: Monthly Averages
