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US Home Building, General Economy
An excellent article out of the US National Association of Home Builders this morning demonstrates well what Madison’s has been saying regarding the importance of home building and home sales for the US macroeconomy. The share of real estate activity in US GDP alone provides a strong basis to this analysis: How US Home Building…
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US Housing Starts Feb 2020 vs Softwood Lumber Prices
A recent headline from Metal Miner magazine declares, “U.S. Housing Starts Surge More Than +39% Year-Over-Year in February 2020,” while — describing the same data — Reuters says, “U.S. Housing Starts Fall Less Than Expected in February 2020.” Who to believe? Well, both.Housing starts in the US dropped -1.5% in February 2020, pulled down by…
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North American Softwood Lumber Supply Inconsistent as Demand Wavers
Sawmill operators across Canada and the US chopped softwood lumber prices last week (03/30/20) by a wide margin in response to: wavering demand; both surpluses and shortages with supply (depending on who was being asked for which commodity); and, yet more transportation issues than the previous week. A two-tiered market was in full force, as…
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Madison’s Weekly Softwood Lumber Prices: March 27, 2020
North American construction framing softwood lumber prices of most commodities (US$ per mfbm, net FOB sawmill) continued dropping last week amid the ongoing COVID-19 pandemic. — Madison’s Lumber Reporter Weekly North America #Softwood #Lumber Prices: Movers and Shakers In week ending March 27, 2020, the price of benchmark softwood lumber commodity Western Spruce-Pine-Fir 2×4 #2&Btr…
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Softwood Lumber Demand Remains High as Supply Chain and Sawmill Production Changes are Ongoing
There were more questions than answers last week as US and Canadian softwood lumber demand remained high but stocking wholesalers and resellers struggled with issues around the need to quarantine and keep social distance for their staff. Sawmills and lumber producers were often occupied with customers who were trying to cancel, or even get refunds…
