There was no sense of urgency in the week prior to Canada’s May long weekend, with the US heading into theirs the following weekend.
While lumber sales were proceeding at nominal volumes, there remained external factors causing issues. Specifically deliveries were a big uncertainty, both in regard to sourcing trucks and rail cars and with increasing fuel charges. Some buyers used this temporary lull as an opportunity to hunt around for deals, but suppliers refused to commit to price quotes beyond three weeks out.
The ongoing situation of very lean inventories throughout the supply chain did not seem to trouble customers much. For their part, sawmills continued to keep manufacturing volumes low to prevent lumber prices from falling further.
Currently, in the middle of May 2026, the price trendlines of the three main benchmark 2×4 dimension lumber items — Western and Eastern-SPF and Southern Pine East Side — were nicely within close range for the same week last year and in 2024.
In the week ending May 15, 2026, the price of benchmark softwood lumber item Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was US$490 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 flat from one month ago.
Prices of Western- and Eastern-SPF settled into a holding pattern while Southern Yellow Pine slid further. Panel prices seemed to have topped out, but it was hard to tell.
To subscribe to Madison’s Lumber Reporter, simply fill out an order form here: https://madisonsreport.com/subscribe/
KEY TAKE-AWAYS:
- Some traders of Western-SPF in the US decried weak conditions while others thought demand looked pretty good.
- Distributors and buyers were content to play it close while the market was mired in uncertainty.
- Sawmills adopted a similar aspect, refusing to build order files while they felt the market wasn’t firing on all cylinders.
- Overall supply remained tight however, limiting any potential for downward pressure on pricing.
- As for Western-SPF in Canada, there were many reports of mills pushing out buildups of material at notable discounts to print.
- Prompt shipments often ended up behind schedule, particularly when originating out of Northern BC.
- Eastern-SPF producers suffered hit-or-miss business.
- ESPF secondary suppliers in the US bought more than they sold over the past two weeks, in a period of seasonal weakness.
- Southern Yellow Pine commodities continued to trend downward in search of a price bottom.
- SYP buyers looking for specific mixes or cleaner lengths had a tough time.
Madison’s Benchmark Top-Six Softwood Lumber and Panel Prices: Monthly Averages
