There were solid sales volumes following the US presidential election. Panel
prices continued to surge, particularly for plywood.
In the week ending November 8, 2024, the price of benchmark softwood lumber
item Western Spruce-Pine-Fir 2x4 #2&Btr KD (RL) was US$444 mfbm. This is up
+$16, or +4%, from the previous week when it was $428, said weekly forest
products industry price guide newsletter Madison’s Lumber Reporter.
That week’s price is up +$41, or +10%, from one month ago when it was $403.
Compared to the same week last year, when it was US$404 mfbm, that week’s
price was up +$40, or +10%. Compared to two years ago when it was $490, that
week’s price was down -$46, or -9%.
In the week ending November 8, 2024, the price of Southern Yellow Pine East
Side 2x4 #2&Btr KD (RL) was US$460 mfbm. This is down -$15, or -3%, from the
previous week when it was $475.
That week’s price is down -$5, or -1%, from one month ago when it was $465.
When compared to the same week last year, when it was $405, that week’s
price was up +$55, or +14%. Compared to two years ago when it was $450, that
week’s price was up +$10, or +2%.
MADISON’S BENCHMARK TOP-SIX SOFTWOOD LUMBER AND PANEL PRICES: MONTHLY
AVERAGES
KEY TAKE-AWAYS:
Plenty of takeaway shored up depleted inventories so stalled construction
projects could be covered.
Producers established order files in the three- to four-week range.
Overall takeaway was more than sufficient to keep ahead of limited supply.
Open market availability was limited again by the contractual commitments
producers had in place.
SYP producers showed resistance to steeper counteroffers from buyers.
Eastern stocking wholesalers improving their positions markedly, if they had
on-ground material.
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