Traders were ready to close the book on July, which had delivered modest gains in many framing lumber prices, but failed to stir much, if any, increase in consumption. Prospects for August didn't look much different, but traders remained hopeful for a pickup. Any price strength remained largely supply-driven. But with no new production curtailments announced this week, and the prospect of Canadian mills restarting after summer shutdowns, buyers stayed cautious.
Week
Aug 1
Week
Jul 25
Year Ago
2007
Random Lengths Framing
Lumber Composite Price*
$273
$270
$289
KD Western S-P-F #2&Btr 2x4 R/L
Mill Price
270
266
260
KD Eastern S-P-F #1&2 2x4 R/L,
delivered Great Lakes
350
345
337
Green Douglas Fir Std&Btr 2x4
R/L (Portland)
182
188
245
Southern Pine (Westside) #2 2x4 R/L
292
289
289
KD Coast Hem-Fir Std&Btr 2x4 R/L
245
245
265
Ponderosa Pine (Inland) #2&Btr
1x12 R/L
450
455
675
* Weighted
average of 15 key items
Structural panel trading kicked into a higher gear late in the week.
Sales of OSB began the week slowly, but gained momentum in some areas
starting Wednesday. The North Central showed the most spark. After
early weakness, Southern Pine plywood prices stabilized and then
rebounded to week-ago levels. Active western Fir plywood sales were
sparked by thin field inventories and order files that reached as far
as mid-August. Distributors in the East drove a round of buying that
helped mills extend some shipment times as far as September.
