A combination
of the distress in the financial system and traders' own bleak outlook
for the coming months left trading in framing lumber at an extremely
low level. Prices fell unevenly as drops in those species that took
hefty hits in previous weeks eased, while cuts in other species
accelerated. Uncertainty about whether the House would pass a new
version of the financial rescue package left financial markets jittery.
Worries about credit and lack of confidence on Wall Street were widely
reflected in the lumber market as well.
|
Week
Oct 3
|
Week
Sep 26
|
Year Ago
2007
|
| Random Lengths Framing
Lumber Composite Price* |
$252
|
$260 |
$269
|
| KD Western S-P-F #2&Btr 2x4 R/L
Mill Price |
215
|
223
|
226
|
| KD Eastern S-P-F #1&2 2x4 R/L,
delivered Great Lakes |
305
|
315
|
312
|
| Green Douglas Fir Std&Btr 2x4
R/L (Portland) |
160
|
166
|
200
|
| Southern Pine (Westside) #2 2x4 R/L |
331
|
335 |
286
|
| KD Coast Hem-Fir Std&Btr 2x4 R/L |
200
|
215
|
240
|
| Ponderosa Pine (Inland) #2&Btr
1x12 R/L |
400
|
410
|
660
|
| * Weighted
average of 15 key items |
Structural
panel markets weakened. Tepid OSB sales left order files eroding and
prices under pressure. Traders' moods were glum. Southern Pine
sheathing prices tumbled in all zones. Price cuts were sharpest on the
westside, where key items fell $25-40, and blocks often moved at deeper
discounts. With order files running thin, western Fir plywood mills
discounted sheathing and underlayment. The lower quotes helped spur
limited sales and extend shipment times into next week.
| (f.o.b. mill prices) |
Week
Oct 3
|
Week
Sep 26
|
Year Ago
2007
|
| Random Lengths Structural Panel
Composite Price* |
$294
|
$307
|
$294
|
| Southern (west-east) 15/32-inch 3-ply exterior
sheathing plywood |
310-325
|
345-350
|
325-345
|
| Southern (west-east) 15/32-inch 4-ply exterior
sheathing plywood |
315-330
|
340-355
|
328-345
|
| Western 1/2-inch 4-ply exterior sheathing plywood |
293
|
305 |
325
|
| North Central 7/16-inch Oriented Strand Board |
170
|
178
|
157
|
| *Weighted average of 11
key items |
