As the annual seasonal cycle of housing construction plodded on into winter weather, customers continued to be conservative with the lumber purchases.
The now long-term practice of just-in-time buying remained the norm. Lumber sales volumes remained muted as they have been for the past three years.
Discussions revolved around external factors like macro-economic conditions and rising costs, particularly freight. Having no visible reason to change, most players held on to whichever opinions they had for most of this year; whether bearish or otherwise. What will happen at the start of next year is a big mystery for all.
Attitudes generally are; to not make any big leaps or sudden movements. A sentiment of caution reigned until future events will provide more clarity.
In the week ending October 23, 2026, the price of benchmark softwood lumber item Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was US$454 mfbm. This was flat from the previous week, said weekly forest products industry price guide newsletter Madison’s Lumber Reporter.
That week’s price was down -$18, or -4%, from one month ago when it was $472.
Trends established so far in October were evident again as demand in all regions showed signs of misfiring.
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KEY TAKE-AWAYS:
• Buyers were content to carry lean inventories and showed zero urgency as they had no trouble getting what they needed.
• Sellers of Western-SPF in the United States increasingly courted business to move more stubborn sizes.
• In Canada buyers of Western-SPF remained circumspect and commodity prices continued to follow entrenched patterns.
• Eastern-SPF players reported conflicting signals, as asking prices were all over the place.
• A few Eastern Canadian sawmills tried to pump up their numbers, but failed due to weak market dynamics and subpar takeaway.
• Several key Southern Yellow Pine items sold at below breakeven levels for sawmills.
• The overall sentiment of Eastern Stocking Wholesalers was one of weakness, however there were mixed reports depending on the source.
Madison’s Benchmark Top-Six Softwood Lumber and Panel Prices: Monthly Averages
