Lumber prices flatten in Around Town

March 23, 2023

Your Weekly Construction Briefing

In the week ending March 10, the price of benchmark softwood lumber item Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) was US $365 mfbn,  down from February 2023’s monthly average of $456.

The above chart shows Madison’s top six benchmark dimensions for softwood lumber, including Canadian Softwood, ESPF KD, SYP KD East, WSPF KD, Studs KD WSPF and Douglas Fir Green. Lumber prices are approaching February 21 rates.

As a comparison, the 2022 March average for the same product was $1403, with the 2022 annual average at $814.  

It appears excess material has reduced demand and kept prices flat. Wholesalers and reloads had sufficient wood to satisfy customer inquiries, and sawmill sales have been limited. 

By mid – February, demand for Western S-P-F commodities was lacklustre. Buyers retreated to the sidelines, having covered their most pressing needs during late-January and early-February. 

In contrast prices of green Douglas-fir commodities took a tumble and producers made price corrections bringing numbers closer in line with other Hem/Fir categories. 

Source: WoodBusiness.ca and Forest Products Weekly Prices

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