Last Week In The Trees

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Last Week In The Trees

What’s The Event?
Industry news over the last week.
What’s Changed?

Lumber

Random Lengths reported that W. SPF lumber prices ended last week at $436/mfbm
(up $7 W/W or 1.6%), while SYP rose by $9 (+2.2%) to $427/mfbm. On the SPF side,
momentum looks set to continue into this week as order files extend out three to four
weeks at most mills and the trade magazine reported little inventory in the channel.
For SYP, long order files discouraged buyers who became increasingly concerned about
a near-term turn in the market. Lumber shipments in the region remained challenging
as drivers reportedly continue to see stronger returns hauling FEMA loads.

OSB

OSB prices moved higher last week, rising $4/msf W/W (+0.9%) in the North Central
region (key benchmark) to $452/msf. Prices were also up in the other major regions,
with Western Canada increasing $2 to $407/msf (+0.5% W/W) and the Southeast surging
$21 to $454/msf (+4.8%). Random Lengths indicated that its trade sources expect
Martco’s greenfield in Corrigan, TX (800 mmsf/yr) to start up in December, with Forex’s
Amos, QC addition (365 mmsf/yr) coming online the same month.

U.S. Housing

Lennar Highlights Construction Delays Being Caused By Harvey And Irma: Across both
states, Lennar expects activity to be delayed due to the storms given tradespeople
constraints, shortages of some raw materials (such as piping) and slowdowns in
obtaining inspections as municipalities are focused on more pressing infrastructure
concerns.