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North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: AUGUST 2020

North America Softwood Lumber Production, Sawmill Capacity Utilization, WWPA: AUGUST 2020

In a reversal from most of this year, US sawmill capacity utilization rates fell in August 2020 compared to September while those in Canada improved from the previous month. Compared to one-year-ago, for January – August 2020 softwood lumber production in the US remained higher than last year, up another +3%, says the latest issue of the Western Wood Products Association’s monthly Lumber Track. In the first eight months of this year, US lumber production volume was 24,392 mfbm compared…

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US Construction Spending: Sept 2020

US Construction Spending: Sept 2020

In keeping with unusually high softwood lumber prices for the season and a seemingly-unstoppable US real estate market, the latest US construction spending data provides further insight. Total Construction: Total US construction spending during September 2020 was estimated at a seasonally adjusted annual rate of US$1,414 billion, basically flat compared to the revised August estimate of $1,410 billion, said the US Census Bureau November 2. The September figure is +1.5% above the September 2019 estimate of US$1,393 billion. During the…

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As Supply Meets Demand Softwood Lumber Prices Correct Further

As Supply Meets Demand Softwood Lumber Prices Correct Further

North American construction framing dimension softwood lumber prices did correct down a bit more last week, however demand remained quite strong for the time of year while supply was still quite constrained. Customers called around to sawmills and secondary suppliers, at wholesalers and reloads, in search of the wood they needed for ongoing projects. Producers were still spending quite some time locating bits and pieces of wood for customer fill-in needs, but there was also a resurgance of new orders…

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US Employment Data, Construction Employment: Oct 2020

US Employment Data, Construction Employment: Oct 2020

The US unemployment rate made another sizeable drop, falling to 6.9% from 7.9% in September. US nonfarm payrolls rose by +638,000 in October compared to September, slightly ahead of market expectations, reported the US Bureau of Labor Statistics Friday. The stronger than expected job growth came as notable job gains in leisure and hospitality, professional and business services, retail trade, and construction more than offset a steep drop in government employment. US construction employment posted a healthy gain in October…

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Madison’s Softwood Lumber Prices Nov 6: sneak preview

Madison’s Softwood Lumber Prices Nov 6: sneak preview

Here is a SNEAK PEAK at tomorrow’s print for North American construction framing softwood lumber prices: “There were some underpinnings of demand as prices dropped the past couple of weeks. Inventories have been stretched so much with little in the supply pipeline that at some point the market would get support.” — Madison’s Lumber Reporter This week the wholesaler price of benchmark construction framing dimension softwood lumber item Western Spruce-Pine-Fir KD 2×4 #2&Btr, for the week ending Nov 6, 2020,…

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Madison’s Monthly British Columbia Coast Log Prices: Oct 2020

Madison’s Monthly British Columbia Coast Log Prices: Oct 2020

Canada Domestic Log Prices Follow Wholesale Lumber Prices Up By Significant Amounts in September 2020 After dropping a little bit in August due to a plummet in multi-family home building, privately-owned US housing starts in September were at a seasonally adjusted annual rate of 1,415,000, the US Commerce Department said Tuesday. This is +2% above the revised August rate of 1,388,000 and is and astonishing +8.1% above the September 2019 rate of 1,274,000. The USA purchases approximately 65% of Canada’s…

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Madison’s Monthly Heating Wood Pellet Prices: Oct 2020

Madison’s Monthly Heating Wood Pellet Prices: Oct 2020

FESBC Accepts More Funding Applications, Canadian First Nation Group Seeks to Reduce Fossil Fuel Dependence FESBC Accepts More Funding Applications The Forest Enhancement Society of BC (FESBC) recently announced its seventh intake for funding applications. Applications were accepted through the FESBC Information Management System from September 28th to October 16th, with a focus on projects that increase utilization of wood fibre that would normally be left as waste, as well as rehabilitation of forests where low value or damaged areas…

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Softwood Lumber Prices Stabilize as Demand Remains Strong

Softwood Lumber Prices Stabilize as Demand Remains Strong

After some big drops last month, the price of most North American construction framing dimension softwood lumber commodities fell further last week but by smaller amounts. The supply-demand balance seems to be correcting, due to ongoing strong customers appetite even as the usual autumn slow-down for building activity is upon us. Sawmill order files have been reduced to mere days, which is normal for this time of year. As prices were plummeting in recent weeks customers delayed purchases in the…

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Canada and US Railcar Loadings: Oct 24, 2020

Canada and US Railcar Loadings: Oct 24, 2020

For the week ending Oct 24, total U.S. weekly rail traffic was 522,653 carloads and intermodal units, up +2% compared with the same week last year. Total carloads for the week ending October 24 were 227,543 carloads, down -6.5% compared with the same week in 2019, while U.S. weekly intermodal volume was 295,110 containers and trailers, up +9.4% compared to 2019.For the first 43 weeks of 2020, U.S. railroads reported cumulative volume of 9,253,138 carloads, down -15% from the same…

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Changes to MFPR Regulations and New Stumpage Calculation for British Columbia: Coast & Interior

Changes to MFPR Regulations and New Stumpage Calculation for British Columbia: Coast & Interior

Madison’s Monthly Softwood Log Prices and Forestry Data Table: September 2020 The British Columbia government announced in mid-September changes to the Manufactured Forest Products Regulation (MFPR), regarding export requirements for sawn-wood products, and Western Red Cedar and Cypress logs, which went into effect Sept. 30, 2020. These changes were intended to increase the amount of processing of wood products done within British Columbia, leading to more B.C. jobs, rather than having that processing done after export. Under the previous MFPR, logs…

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