 Table
of Contents
Table of Contents
Acknowledgements
Table of Contents
List of Figures and Tables
Introduction
Chapter 1: North American Softwood Lumber and Panels — An Overview
The Lumber and Panel Marketplace
Overview
Different Sectors of the Market
The North American Softwood Distribution Chain
Lumber Producing Regions
The West Coast Region
The Inland Region
The South
The Midwest and Northeast Region
The Western Canadian Region
The Eastern Canadian Region
Offshore
Structural Panel Producing Regions
Plywood Producing Regions
The Western Plywood Region
The Southern Yellow Pine Plywood Region
The Canadian Softwood Plywood Region
OSB Producing Regions
The North Central Region
The Mid-Atlantic Region
The Southeast Region
The Southwest Region
The Western Canadian Region
The Eastern Canadian Region
Chapter 2: The 20 Key Questions of Lumber Trading
Characteristics of the Lumber
Question 1. What is the species?
Question 2. What is the dimension (thickness and width)?
Question 3. What is the grade?
Question 4. What is the moisture content?
Question 5. What is the surfacing?
Question 6. Are the edges eased?
Question 7. What is the end trimming?
Question 8. Is the lumber grade stamped?
Packaging of the Lumber
Question 9. How many pieces per unit?
Question 10. How many lengths per unit?
Question 11. How is the lumber protected?
What, When, and How is the Lumber to be Shipped?
Question 12. What is the tally?
Question 13. How much does the lumber weigh?
Question 14. What is the quantity/method of shipment?
Question 15. What is the shipment time?
Question 16. What is the delivery address?
Pricing and Terms of Payment
Question 17. What is the price?
Question 18. What is the credit status?
Question 19. What are the terms of payment?
Question 20. What is the customer’s order number?
Chapter 3: The 20 Key Questions of Panel Trading
Characteristics of the Panels
Question 1. Structural or non-structural panels?
Question 2. Plywood or OSB?
Question 3. What is the durability?
Question 4. What is the species?
Question 5. What is the grade?
Question 6. What is the surfacing?
Question 7. What is the span rating?
Question 8. What does the grade stamp say?
Question 9. What is the size of the panel?
Question 10. Are there edge issues?
Packaging of the Panels
Question 11. How many pieces per unit?
Question 12. How are the panels protected?
What, When, and How are the Panels to be Shipped?
Question 13. How much do the panels weigh?
Question 14. What is the method of shipment?
Question 15. What is the shipment time?
Question 16. What is the delivery address?
Pricing and Terms of Payment
Question 17. What is the price?
Question 18. What is the credit status?
Question 19. What are the terms of payment?
Question 20. What is the customer’s order number?
Chapter 4: The Business of Trading
A (First) Day in the Life Of…
A Little Trading Philosophy
Speculation and Risk
The First Sector: Mills, Remanufacturers, and Treaters
The Second Sector: Wholesalers and Distribution Yards
The Third Sector: Retailers and End-Users.
The Service Aspects
Marketing
Transportation
Credit
Claims
Speculation
The Business of Inventory Control
Just-In-Time (JIT) Buying
Vendor-Managed Inventory (VMI)
Electronic Data Interface (EDI)
Chapter 5: The Transportation Function
Rail Transportation
Shipping by Rail
Rail Rates
Shipping Unsold Lumber on the Rail System
Trucking
Rate Structure
Other Trucking Considerations
Containers (Vans) /Piggybacks
Rate Structure
Other Services
Loading and Unloading Piggyback Vans
Chapter 6: Resolving Claims (Lumber and Panel)
What to Do When You Get a Claim
The 12-Step Program for Settling Claims
Types of Claims
Transportation Claims
General Grade and Manufacturing Claims
Moisture Content Claims
Tally or Shortage Claims
A Shipment Time Claim
A Market Claim
Complaints
Chapter 7: Special Market Sectors
Pressure-Treated Lumber
Why Pressure Treated?
Types of Preservative Treatment
The Pressure-Treating Process
Retention Levels
What Does the Treatment Mark Say?
What Does It Cost?
Machine Stress-Rated Lumber
Non-Panel Engineered Wood Products
Fingerjointed Lumber Products
Glue-laminated Beams (Glulams)
Wood I-Joists
Laminated Veneer Lumber (LVL)
Parallel Strand Lumber (PSL)
Laminated Strand Lumber (LSL)
International Markets
Chapter 8: The Futures Market
Lumber Futures
What is a Futures Contract?
Timing of the Contract
Why Trade or Follow the Futures Market?
Lumber Options
Appendix A: The Manufacturing Process
Lumber
Structural Panels
Plywood
OSB
Appendix B: Calculating Tally Value
Appendix C: Maximizing Flatcar Lumber Loadings
Appendix D: The U.S./Canadian Softwood Lumber Agreement
Appendix E: A Selected List of Trade Associations, Grading Agencies, and Other Organizations
Appendix F: Glossary
Appendix G: Study Questions and Answers
Questions
Answers
Subject Index
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