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Updated every Friday afternoon at 2:00 pm (Pacific Time). Last update: September 23, 2016.
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This report contains brief excerpts from our full 12-page newsletter, which includes prices of more than 1,600 lumber and panel items, plus detailed summaries of market activity. Contact Random Lengths for a free sample issue.
A more bullish tone to the framing lumber market was apparent in some species, but less so in others. Trading was most active in Southern Pine and Canadian S-P-F, especially Wednesday and Thursday as the futures board rallied to a premium to cash. In all markets, traders weighed myriad factors that could tip the balance one way or another. Uncertainty surrounded the U.S.-Canada lumber trade issue, but traders sensed that futures was pricing in potential litigation and duties on Canadian shipments to the U.S.
|Random Lengths Framing Lumber Composite Price*||$352||$350||$297|
|KD Western S-P-F #2&Btr 2x4 R/L Mill Price||312||310||251|
|KD Eastern S-P-F #1&2 2x4 R/L, delivered Great Lakes||410||415||343|
|Green Douglas Fir Std&Btr 2x4 R/L (Portland)||332||332||300|
|Southern Pine (Westside) #2 2x4 R/L||415||403||300|
|KD Coast Hem-Fir #2&Btr 2x4 R/L||327||330||305|
|Ponderosa Pine (Inland) #2&Btr 1x12 R/L||680||685||665|
|* Weighted average of 15 key items|
Structural panel trading was lackluster, and prices declined. With month- and quarter-end approaching, some OSB producers opened to counters to sell loads. Traders in most markets said activity in September had failed to meet their lofty expectations so far. Traders in the Southern Pine plywood market struggled through a week of sluggish sales, and sloppy prices. Producers lowered quotes and opened to counters on most items. The pace was busier in western Fir plywood, but cracks in prices emerged.
(f.o.b. mill prices)
|(f.o.b. mill prices)||This Week
|Random Lengths Structural Panel Composite Price*||$383||$390||$357|
|Southern (west-east) 15/32-inch 3-ply rated sheathing plywood||355-375||365-382||385-410|
|Southern (west-east) 15/32-inch 4-ply rated sheathing plywood||355-380||365-382||385-410|
|Western 1/2-inch 4-ply rated sheathing plywood||407||420||393|
|North Central 7/16-inch Oriented Strand Board||300||304||217|
|*Weighted average of 11 key items|
Below are headlines of recent articles in the "Through A Knothole" section of our full 12-page newsletter, featuring articles of interest to the industry, including production/price trends, market analysis, trade issues, timber supplies, and much more. Contact Random Lengths for a free sample issue.
This Week in the "Through a Knothole" Section of Random Lengths
- Trader’s Notebook: The prospects of the U.S. potentially filing a countervailing and anti-dumping duty case against Canadian softwood lumber imports will dominate trader’s attention as the fourth quarter gets underway.
- Numerous questions abound surrounding the U.S.-Canada lumber trade issue and prospects that the U.S will file a new case against Canada this fall. We do our best to answer those questions in this issue of Random Lengths.
- Headwinds continue to hold back the U.S. housing recovery, but demographic and enough favorable economic trends are expected to keep new residential construction on a moderate upward track. That was the conclusion from a presentation at the Forest Economic Advisors’ annual Forest Products Forum September 20 in Portland, Ore.
- U.S. housing starts tumbled in August, extending what has been a bumpy trend through 2016 year to date.