Madison’s Heating Wood Pellet Price report: May 2020
In late April the US Department of Agriculture’s Forest Service announced it will award US$1.5 million to seven rural communities through a new Community Wood Energy and Wood Innovation grant program. USDA to Invest in Wood Energy The new program aims to support the costs of installing wood energy systems and building innovative wood product facilities in rural communities across the country. Five of the communities will use locally-sourced wood to reduce energy costs and fossil fuel use while supporting…
North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: Jan 2020
In 4Q 2019 North American softwood lumber production recovered nicely from drops over last summer, and by the end of last year made good strides in improvement, says the latest issue of the Western Wood Products Association’s monthly Lumber Track, for January 2019 – January 2020. January 2020 US lumber production volume increased by +2% compared to January 2019, to 3,221 mmfbm. After drooping for most of last year to end 2019 -15% lower than full-year 2018, softwood lumber production…
Softwood Lumber Prices Keep Rising as Suppliers Look Toward Late Summer
Sawmills across North America looked toward the end of summer last week, as lumber prices continued to rise but sales volumes were unsteady. Lumber producers in the US and Canada considered this current market strength as temporary, and were already making plans for seasonal slow-downs when summer draws to a close.Softwood lumber producers consequently pushed up their asking prices and extended sawmill order files into mid- to late-June.Prices were nudged up every day as sawmills sold out of stock with…
Madison’s Weekly Softwood Lumber Price Update
MADISON’S SOFTWOOD LUMBER MARKET WEEKLY COMMENT:Key comment: “Ravenous builders emerged as construction activity restarted, exposing the considerable lack of softwood lumber supply that has developed at all levels of the market.”Prices updated May 26, 2020 (CLICK TABLE TO ENLARGE)
May Long Weekend in Canada Does Nothing to Slow Lumber Demand
A lot of regular life activities remain unknown as various jurisdictions “open up” from the Covid19 isolation and quarantine. Regardless, most North American construction framing dimension softwood lumber prices jumped once again last week on both continued healthy demand and uncertainty with supply.Producers of Western Spruce-Pine-Fir commodities in the United States said bread and butter items again sold with aplomb, although all stock was moving briskly. Buyers came in volleys to shore up their depleted inventories; making peace with the…
Softwood Lumber Prices May 2020 & US Housing Starts: April 2020
Residential housing starts in the US slumped -30% from the previous month to a seasonally adjusted annual rate of 891,000, the lowest level since 2015, the Commerce Department said Tuesday. Data for March was revised up to show homebuilding declining to a pace of 1.276 million units instead of dropping to 1.216 million units as previously reported. Single-family housing starts dropped -25% to a rate of 665,000, also a five-year low.US building permits fell -21% from March to a seasonally…
Madison’s Weekly Softwood Lumber Prices: May 19, 2020
Prices updated May 19, 2020 (CLICK TABLE TO ENLARGE) MADISON’S SOFTWOOD LUMBER MARKET WEEKLY COMMENT: Key comment: “Demand in both the West and the East was robust, as order files at sawmills stretched out and most prices advanced further.”
US Home Improvement & Remodelling Activity: 1Q 2020
A recent report by the Harvard Joint Center for Housing Studies shows US home remodelling punches above its weight in the ratio of it’s contribution to US total GDP, compared to new home building.Over 50% of US housing is now over 40 years old and the average price tag is getting a lot bigger, at: US$17,322 in 2017. United States Remodelling Activity: 1Q 2020 Remodelling spending in the United States generated 2.2% of national economic activity in 2017, Harvard researchers…
North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: February 2020
The latest issue of the Western Wood Products Association’s monthly Lumber Track, for February 2019 – February 2020, shows US lumber production volumes continued previous improvement, this time up by +4.2% over the previous year, to 6,108 mmfbm.February 2019 – February 2020 Canada softwood lumber production has not yet been released by Statistics Canada, but Madison’s would expect it to show similar upward trajectory. USA Softwood Lumber Production: Feb 2020 USA Sawmill Capacity Utilization Rates: Feb 2020 Sawmill production as…