In advance of the big US Thanksgiving holiday, the last week of November proved to have uninspiring lumber sales; at best.
Most folks were more interested in the upcoming break than focussing on business. This, especially considering demand has been so soft since the end of summer. The lumber sales transactions that did occur were, once again, for immediate fill-in needs only.
A few players took advantage of the slow time to book orders for gaps in their inventory; which does not bode well for December, since their needs will have been filled and their lumber buying work for the year will be done.
As the continent heads into true winter weather and a real end to construction for the year, expectations are that December will bring an absolute lull to solid wood sales.
As such, all eyes were on the upcoming 2026 home building season and conversations about how that activity might look.
In the week ending November 28, 2025, the price of benchmark softwood lumber item Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was US$390 mfbm. This was flat from the previous week, said weekly forest products industry price guide newsletter Madison’s Lumber Reporter. That week’s price was down -$75, or -16%, from one month ago when it was $465.
For its part, Southern Yellow Pine East Side 2×4 #2&Btr KD (RL) was US$350 mfbm which was also flat from the previous week.
Already-tepid lumber demand declined further as US players absconded for their Thanksgiving holiday festivities.
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KEY TAKE-AWAYS:
- Already-tepid demand declined even further as buyers and sellers of Western-SPF in the US absconded for their Thanksgiving holiday festivities.
- Western-SPF sellers Canada presented a patchwork of propositions for potential purchasers.
- On-the-ground deals showed a range of pricing contingent upon the source’s inventory position.
- Plenty of US buyers of Eastern-SPF worked to cover near-term needs in advance of their Thanksgiving holiday weekend.
- Distributors were busier than sawmills as they could offer more competitive pricing and flexible shipping timelines.
- Small discounts on Southern Yellow Pine were reported on the East Side from some producers as they worked through accumulations.
- Sales were a sporadic and low-volume affair.
- Inventory holders showed more interest in exploring coverage for early-2026 as many considered this year to be over.
Madison’s Benchmark Top-Six Softwood Lumber and Panel Prices: Monthly Averages
