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Canada Softwood Lumber Production July, US Sawmill Profits 2Q: 2020

Canada Softwood Lumber Production July, US Sawmill Profits 2Q: 2020

Canadian softwood lumber production decreased -7.4% from June to 4,491 thousand cubic metres in July, said Statistics Canada Friday. Production was +1.5% higher than in July 2019. Canada’s sawmills shipped 4,553 thousand cubic metres of lumber in July, down -4.2% from June and down -0.7% from July 2019. Lumber companies in the US reached record profits thanks to high lumber prices and declining sawlog costs Record high lumber prices in the US, stable income for residual chips, and slightly lower costs for sawlogs moved…

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Madison’s British Columbia Coast Log Prices: September 2020

Madison’s British Columbia Coast Log Prices: September 2020

Privately-owned US housing starts in August were at a seasonally adjusted annual rate of 1,416,000, the Commerce Department said. This is -5% below the revised July estimate of 1,492,000, but is +3% above the August 2019 rate of 1,377,000. Total starts were up +3% year-over-year compared to August 2019. The dip in housing starts was driven by a -25% decline in multifamily construction activity. Single-family housing starts in August were at a rate of 1,021,000; this is +4% above the…

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Most Softwood Lumber Prices Remain Level While Eastern Items Correct Down

Most Softwood Lumber Prices Remain Level While Eastern Items Correct Down

There was more confusion in the North American construction framing dimension softwood lumber market last week as prices of most home building solid wood commodity items stayed flat, except Eastern S-P-F which did correct down somewhat. The supply-demand balance seemed to be finding an even keel, although customers still were reluctant to make big purchases at unprecedented highs. The latest US data for housing starts, home sales, and house prices all show phenomenal increases, indicating very strong demand for real…

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US New Home Sales Aug and Construction Framing Softwood Lumber Prices Sept 2020

US New Home Sales Aug and Construction Framing Softwood Lumber Prices Sept 2020

Fast on the heels of sharply-upward US existing home sales data earlier this week, US new home sales for August are also up significantly. Please see details of existing home sales release here: https://madisonsreport.com/2020/09/22/u-s-house-prices-hit-record-high-as-existing-home-sales-jump-to-14-year-peak/Sales of new US single-family homes increased to their highest level in nearly 14 years in August, suggesting the housing market continued to gain momentum. The Commerce Department said on Thursday new home sales rose +5% to a seasonally adjusted annual rate of 1.011 million units last…

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Plywood Prices Pop Higher As Softwood Lumber Prices Stay Flat

Plywood Prices Pop Higher As Softwood Lumber Prices Stay Flat

While most construction framing dimension softwood lumber prices stayed flat last week, prices of Plywood and Oriented Strand Board did increase — as Madison’s had indicated they might. The early-season storms in the US southeast as well as ongoing wildfires in the US west have propped up demand of wood panel products for rebuilding and reconstruction at a time of year when sawmills are usually reducing production. Sales of softwood lumber do seem to be slowing down, which is normal…

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U.S. House Prices Hit Record High As Existing Home Sales Jump to 14-Year Peak

U.S. House Prices Hit Record High As Existing Home Sales Jump to 14-Year Peak

Existing home sales in the US, which account for the bulk of home sales, jumped +10.5% on a year-on-year basis to a seasonally adjusted annual rate of 6 million units for August. Compared to July, the increase was +2.4% , which the highest level since December 2006 and marked three straight months of gains. Single-family home sales advanced +2% in August. While multi-family home sales increased +8.6%, they accounted for 10.5% of sales, down from the 12% that is considered…

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US Housing Starts and Softwood Lumber Prices: August & September 2020

US Housing Starts and Softwood Lumber Prices: August & September 2020

Privately-owned US housing starts in August were at a seasonally adjusted annual rate of 1,416,000, the Commerce Department said Thursday. This is -5% below the revised July estimate of 1,492,000, but is +3% above the August 2019 rate of 1,377,000. Total starts were up +3% year-over-year compared to August 2019. The dip in housing starts was driven by a -25% decline in multifamily construction activity. For the week ending September 11, 2020, softwood lumber prices flattened or dropped for the…

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British Columbia Government Changes to the Manufactured Forest Products Regulation (MFPR)

British Columbia Government Changes to the Manufactured Forest Products Regulation (MFPR)

The British Columbia government announced Thursday changes to the Manufactured Forest Products Regulation (MFPR) around export requirements for sawn-wood products and lumber made from western red cedar or cypress go into effect Sept. 30, 2020. These changes are 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 current MFPR, logs that are squared off up to a maximum dimension of…

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US Housing Starts August & Softwood Lumber Prices September: 2020

US Housing Starts August & Softwood Lumber Prices September: 2020

US Housing Total Starts August 2020 & Benchmark Softwood Lumber Prices September 2020 The USA purchases approximately 65% of Canadian lumber production mostly for construction framing, while Canadian buyers account for about 10%, and those in Japan take 6%.However: US and Canadian customers purchase mostly standard grades (#2&Btr), while Japan buys almost exclusively premium or “appearance” grades (J-grade) which sells for quite a bit more than standard grade does. For the week ending September 11, 2020, softwood lumber prices flattened…

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Softwood Lumber Prices Flatten or Drop Slightly as Autumn Comes On

Softwood Lumber Prices Flatten or Drop Slightly as Autumn Comes On

Madison’s indicated last week that most standard construction framing dimension softwood lumber commodities could level off or even start dropping, and that’s exactly what has happened. Players and industry insiders say that supply is improving as sawmills are able to get more lumber production online, just as the usual seasonal drop in demand arrives. However, the massive wildfires in the US west coast — which have already caused huge damage to property — and looming storms in the US southeast,…

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