A closer look at the latest data from the USDA’s Foreign Agricultural Services’ Global Agricultural Trade System, with additional analysis provided by the Southern Forest Products Association (SFPA), reveals that exports of Southern pine lumber, both brite stock and treated, hit a three-year high of 59.7 MMBF in May, just shy of the record high 60.3 MMBF recorded in October 2021. The SFPA points out that this is only the third time monthly exports have surpassed 50 MMBF since October 2021.

May 2024 exports of Southern Pine lumber (treated and untreated) hit a three-year high with 59.7 Mbf, just shy of the 60.3 Mbf of exports in October 2021, according to May data from the USDA’s Foreign Agriculture Services’ Global Agricultural Trade System. It’s only the third time monthly exports have surpassed 50 Mbf since October 2021.

Southern Pine lumber exports, which were up 28% over April and up 31% over May 2023, are running 15% ahead of 2023 YTD.

Softwood imports, meanwhile, were nearly flat over April but down 4.2% over May 2023.

The SFPA’s international consultants found most of May’s gains were in the Caribbean, although Mexico, Pakistan, and a few other countries were strong as well.

Other highlights include the following:

Mexico remained the largest export market (by volume) of Southern pine and treated lumber, up 34% year-to-date with 64.4 MMBF of imports.
The Dominican Republic, the second largest importer of Southern pine, is running 25% ahead of the same period last year with 47.3 MMBF.
India’s total of SYP imports slowed in May but are still running 3% ahead of 2023 year-to-date at 16.1 MMBF.
Exports to China continue to slide, down 59% year-to-date compared to 2023 with 5.9 MMBF of Southern pine lumber imports.
The following countries have imported more than 1 MMBF through May:

Pakistan: up 453% over the year
Colombia: up 42% over the year
Canada: up over 55% over the year
Taiwan: up 42% over the year
Philippines: up 60% over 2023
Egypt: up 4% over the year
Netherlands, down 31% over the year
Panama, Vietnam, and France

Source:  southernpine.com