Even as persistent low lumber supply and depleted inventories continued, the upcoming US Thanksgiving holiday brought the usual seasonal slowdown in purchasing.
As sellers and buyers both prepared to head out for the extended long weekend, sales of construction framing dimension softwood lumber remained for immediate needs only. Some prices perked up slightly, as was the trend in recent weeks, but most producers focussed on booking production right up to year-end and the annual Holiday shutdowns rather than trying to get prices higher.
There were no significant delays in transportation, indeed delivery times were better than is often the case at this time of year. As well, the sawmills across North America are well
stocked with logs; so the expectation to the end of this year is a smooth wind-down by running wood production out of log decks currently on the ground at manufacturers.
In the week ending November 22, 2024, the price of Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was US$470 mfbm, which up +$10, or +2%, from the previous week when it was $460, said weekly forest products industry price guide newsletter Madison’s Lumber Reporter.
That week’s price is up +$67, or +17%, from one month ago when it was $403.
The upcoming US Thanksgiving holiday brought the usual seasonal demand drop. Prices in most S-P-F and Hemlock/Douglas Fir items were firm to slightly up, while prices of Southern Yellow Pine remained conspicuously soft.
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KEY TAKE-AWAYS:
- The tone was optimistic, encouraged by strengthening market conditions in the wake of the US presidential election.
- Purchasers stuck to short-term coverage as best they could amid ongoing limited supply.
- The trend of scarce availability outstripped by winter demand persisted for Eastern S-P-F.
- Reloads were basically out of quick-shipping material .
- Sawmill order files were deep enough to extend through December and into early-2025.
- Southern Yellow Pine producers were more flexible with their discounted material as they focussed on moving floor stock.
- Supply of plywood remained tighter than Oriented Strand Board.
Madison’s Benchmark Top-Six Softwood Lumber and Panel Prices: Monthly Averages
