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…

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…

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…

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…

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…

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…

US home prices rose at the slowest pace in more than six years in March, a sign weaker sales are keeping a lid on price increases. The Case-Shiller US National Home Price Index, reported Tuesday by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of +3.2% in March, following an increase of…

As the home building and construction season for 2019 marches on, seasoned players in the production, sale, and purchase of North American softwood dimension lumber products are surprised at the very low demand for solid wood commodities. Relentlessly dropping lumber prices — admittedly from soaring highs one year ago — since the end of 2018…

Couched between the Canadian long weekend for Victoria Day and this Monday’s Memorial Day in the US, the entirety of the North American sawmilling and lumber sales industries were last week at a total loss for why demand for solid wood construction framing dimension softwood lumber products was so low. Wholesaler prices (net FOB sawmill)…

Softwood Lumber Prices vs US House Price Index: 2019 In the US, a nationwide housing shortage has eased somewhat, said USA Today May 22. Home price gains have moderated. And bidding wars are no longer commonplace. Thirty-eight percent of US home buyers topped their spending limits, up from 32% a year ago, according to the March survey Owners.com,…

Contracts for new, single-family home sales declined to a 673,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the US Census Bureau. However, this decline was off a strong 723,000 sale pace in March, making that month’s sales rate the best since the Great Recession. Furthermore, the April rate was the…