In 2021, softwood lumber mills will increase production to meet stronger expected demand. Softwood lumber prices have began to fall in late September and early October, and will continue to decline through January of next year. With production remaining more in line with demand next year, prices will fall back toward more “normal” profit levels. While the overall economy is experiencing the most severe recession since the Great Depression, the two end-use markets for softwood lumber, new residential construction (housing starts) and residential improvements, have actually been doing very ...
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