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Conifex Sells Fort St James Timber License to Hampton; New Sawmill Build

Conifex Sells Fort St James Timber License to Hampton; New Sawmill Build

The business of producing construction framing dimension softwood lumber in British Columbia just Got More Interesting: British Columbia has approved the transfer of Conifex’s forest licence in the Fort St. James, BC, area to Fort St. James Forest Products, a subsidiary of Hampton Lumber Mills. Conifex announced the $39 million sale in June, pending provincial approval. Conifex had suspended operations at its Fort St. James mill, putting more than 200 people out of work and prompting the district to declare…

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US House Prices vs. Softwood Lumber Prices: Oct 2019

US House Prices vs. Softwood Lumber Prices: Oct 2019

Average US House Sales Price vs Benchmark North American Construction Framing Dimension Softwood Lumber Prices: 3Q 2019 US house prices rose in August, up +0.2 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).  House prices rose +4.6 percent from August 2018 to August 2019.  The previously reported +0.4 percent increase for July 2019 remains unchanged. Median US House Sales Price vs Benchmark North American Construction Framing Dimension Softwood Lumber Prices: 3Q 2019 The…

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US New Home Sales: Sept 2019

US New Home Sales: Sept 2019

Contracts for new, single-family home sales in the US inched down -0.7% in September to a 701,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The decline came off a downwardly revised August estimate, which was decreased from an initial reading of 713,000 to a new estimate of 706,000. Year-over-year, the September 2019 estimate is +15.5% higher. Sales in September continue strength supported by lower mortgage rates. About 15% of newly…

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US Existing Home Sales, House Prices: Aug & Sept 2019

US Existing Home Sales, House Prices: Aug & Sept 2019

After reaching 17-month high last month, existing home sales in the US, released by the National Association of Realtors (NAR) Tuesday, fell more than expected in September 2019 despite low mortgage rates. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, dropped -2.2% to a seasonally adjusted annual rate of 5.38 million in September. However, sales were still +3.9% higher than one year ago. The September inventory stayed the same at 1.83 million units from August but decreased from…

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Softwood Lumber Prices Moderate Downward Over One-Month-Ago

Softwood Lumber Prices Moderate Downward Over One-Month-Ago

Last week Western Spruce-Pine-Fir KD 2×4 #2&Btr rose +$2 to close at US$370 mfbm. Last week’s price is -$12 less than it was one month ago. However compared to one year ago, when it was US$356 mfbm, this price is up +$14, or almost +4%. In a time when literally no one knows what is happening with the North American construction framing dimension softwood lumber market — let alone what will happen to the end of 2019 — the price…

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Province Specific Impacts of the 2006 United States-Canada Softwood Lumber Agreement: A Seemingly Unrelated Regression Approach

Province Specific Impacts of the 2006 United States-Canada Softwood Lumber Agreement: A Seemingly Unrelated Regression Approach

In November 2016 Madison’s was co-author of an economics study on the impacts of the 2006 Canada-US Softwood Lumber Agreement on each of Canada’s provincial forest industries: The full report “Province Specific Impacts of the 2006 United States-Canada Softwood Lumber Agreement: A Seemingly Unrelated Regression Approach” is available for a small fee here: https://www.sciencedirect.com/science/article/pii/S1389934117303209 AbstractIn this paper, we evaluate effects of the 2006 U.S.-Canada Softwood Lumber Agreement (SLA 2006) in U.S. lumber imports from Canadian provinces. Based on monthly data…

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US Home Building, Canada Lumber Production: 3Q 2019

US Home Building, Canada Lumber Production: 3Q 2019

The Case-Shiller US National Home Price Index, reported September 24 by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of +3.2% in July 2019, following an increase of +3.4% in June. On a year-over-year basis, the Case-Shiller U.S. National Home Price NSA Index rose by +3.3% in July.See Full Details Here: https://madisonsreport.com/2019/09/26/us-house-prices-july-2019/ Year-over-year home prices in the US continued to gain, but at ever more modest rates,” says Philip Murphy, Managing Director and Global Head of…

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Madison’s WSPF Lumber Prices Oct 17: sneak preview

Madison’s WSPF Lumber Prices Oct 17: sneak preview

The full North America softwood lumber price list will be updated as usual first thing Friday morning Eastern time, however here is a sneak peak at benchmark WSPF prices: After dropping -$8 last week, The price of benchmark softwood lumber item Western Spruce-Pine-Fir KD 2×4 #2&Btr rose +$2 this week to US$370 mfbm; Utility/#3 regains the +$12 it lost last week to US$242 mfbm. This week’s lumber market story published to the website Wednesday: https://madisonsreport.com/2019/10/16/benchmark-softwood-lumber-price-loses-ground-specialty-item-prices-tank/ : “The price of benchmark…

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Benchmark Softwood Lumber Price Loses Ground, Specialty Item Prices Tank

Benchmark Softwood Lumber Price Loses Ground, Specialty Item Prices Tank

The price of benchmark construction framing dimension softwood lumber commodity Western Spruce-Pine-Fir KD 2×4 #2&Btr dropped another -$8 last week as customer reluctance to buy won over supplier stubbornness to keep prices higher. For their part, many specialty items like Douglas fir green, studs in Eastern Canada, and plywood, dropped significantly as players were better able to assess the supply-demand balance. Having just been celebrated in Canada, the US Thanksgiving long weekend looms into view. This date usually marks the…

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