Framing Lumber Prices
According to the NAHB, the framing lumber composite price dropped 0.3% for the week ending on Sept. 27 compared to the previous week. Lumber prices are currently 6.2% lower than they were one year ago.
NAHB continually tracks the latest lumber prices and futures prices, and provides an overview of the behaviors within the U.S. framing lumber market. The information is sourced each week using the Random Lengths framing lumber composite price which is comprised using prices from the highest volume-producing regions of the U.S. and Canada. A summary of other wood prices, including plywood prices, is included below.
Notable Mill Closures and Market Impacts
– Canfor Corp., the fourth largest softwood lumber producer in North America, recently announced the closure of two mills in British Columbia and curtailment of mills in the southern U.S. by the end of the year.
– The company sited the ongoing weak lumber market and increased U.S. tariffs on Canadian softwood lumber as reasons for mill closures and curtailments.
-The closures will eliminate an estimated 670 million board feet of annual production capacity
Key Factors Influencing Lumber Prices
Softwood lumber prices have been especially volatile in recent years largely because of increased demand, rising tariffs, supply-chain bottlenecks and insufficient domestic production.