March arrived with still more questions than answers for the North American construction framing softwood lumber market.
Even as spring thaw brought an increase in lumber buying, the ongoing amount — and severity — of unknowns continued to plague industry.
Sawmills and home builders alike were very unclear about the potential for another round of punishing tariffs.
As such, responses varied according to individual choices of players; some bought wood for expected delivery before the next tariff threat at the beginning of April, while others held off to see what would unfold at that time. Despite all this, the
usual seasonal price increases came on, as reflection of growing demand ahead of spring construction activity.
In the week ending March 07, 2025, the price of benchmark softwood lumber item Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was US$535 mfbm. This is up by +$10, or +2%, from the previous week when it was $525, said weekly forest products industry price guide newsletter Madison’s Lumber Reporter.
That week’s price is up by +$53, or 1%, from one month ago when it was $483.
Commodity prices were all over the map as tariffs came on then were quickly removed, and kicked back down the road to April 2nd.
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KEY TAKE-AWAYS:
- The lumber market was roiled by this on-off tariffs all week; lumber futures seesawed wildly, while WSPF commodity prices varied significantly and frequently.
- Sawmill asking prices were resoundingly up, with some producers apparently off the market as of midweek.
- Western Canadian suppliers were beyond frustrated, with price lists flying hither and thither and no real solid basis to numbers.
- Eastern Canadian purveyors of lumber and studs were exhausted with the on-again, off-again tariff yo-yo.
- The cash market in the US was busy amid limited availability and rising prices; several suppliers were impressed by the amount of customers who ordered at higher numbers.
- Spruce buyers in the US continued to shift to Southern Yellow Pine.
- In the US Northeast the up-and-down nature of trade disputes in North America kept business to a dull roar.
- Construction activity was lumbering to life in the tri-state area; for builders spring inventory needs were a burning question.
Madison’s Benchmark Top-Six Softwood Lumber and Panel Prices: Monthly Averages
