{"id":80862,"date":"2021-06-15T06:54:35","date_gmt":"2021-06-15T06:54:35","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/wood-demand-stay-strong-next-decade-says-weyerhaeuser-ceo\/"},"modified":"2025-09-19T08:55:39","modified_gmt":"2025-09-19T08:55:39","slug":"wood-demand-stay-strong-next-decade-says-weyerhaeuser-ceo","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/wood-demand-stay-strong-next-decade-says-weyerhaeuser-ceo\/","title":{"rendered":"Wood demand could stay strong for the next decade, says Weyerhaeuser CEO"},"content":{"rendered":"

The home-building and renovation boom could keep wood demand strong for the next decade, the biggest U.S. lumber producer said Tuesday.<\/em><\/p>\n

In anticipation,\u00a0Weyerhaeuser Co.\u00a0is eyeing forests and sawmills so it can expand output of boards and planks, Chief Executive Officer Devin Stockfish told the Nareit REITweek 2021 Investor Conference on Tuesday. The Seattle-based company already owns 11 million acres of American timberland.<\/p>\n

\u201cWe\u2019re going to continue to look for timberland opportunities,\u201d Stockfish said. \u201cEvery deal that comes to market, we\u2019re looking at, so I would expect us to continue to be active on that front.<\/p>\n

Weyerhaeuser stock has climbed 45% in the past year and reached an all-time high early last month. The shares were up 0.3% to $35.79 at 1:55 p.m. in New York.<\/p>\n

Wood prices soared above $1,000 per 1,000 board feet for the first time ever earlier this year before touching a record high in May on a surprise surge in residential construction amid pandemic lockdowns and rock-bottom borrowing costs.<\/div>\n

Some potential home buyers are getting priced out of the market, but for lumber producers, the rally has spurred all-time high profits. Although Stockfish foresees years of strong demand, he sees the recent price frenzy as unsustainable.<\/p>\n

\u201cI don\u2019t think $1,000 lumber prices are the new normal,\u201d Stockfish said. \u201cWith that being said, when you think about the amount of housing we\u2019re going to have to build in the U.S. over the next three, five, 10 years, that\u2019s just a significant amount of demand for wood products.\u201d<\/div>\n

U.S. lumber futures for July delivery have tumbled from last month\u2019s record, extending losses Tuesday to a seven-week low at $1,160.10 as do-it-yourself renovation demand shows signs of weakening and some builders wait for lower prices.<\/p>\n

That\u2019s down 33% from the May 10 peak above $1,700. Some prices on the\u00a0cash market, where most builders buy lumber for immediate delivery, have also started to drop after sawmills ramped up production.<\/p>\n

Stockfish delivered his bullish outlook on the same day that rival Canfor Corp. said it will invest roughly $160 million in a\u00a0new sawmill\u00a0in Louisiana and canceled a previously announced project in Georgia. The world\u2019s biggest lumber producer, West Fraser Timber Co., is\u00a0expanding capacity\u00a0at five U.S. mills while Interfor Corp.\u00a0plans to buy\u00a0four Georgia-Pacific LLC sawmills.<\/p>","protected":false},"excerpt":{"rendered":"

The home-building and renovation boom could keep wood demand strong for the next decade, the biggest U.S. lumber producer said Tuesday. In anticipation,\u00a0Weyerhaeuser Co.\u00a0is eyeing forests and sawmills so it can expand output of boards and planks, Chief Executive Officer … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":66675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4713,4716,4715,4714],"tags":[3588,3945,3399],"class_list":["post-80862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-in-the-timber-industry","category-latest-trends","category-market-analysis","category-wood-industry-prices","tag-ceo","tag-lumber-prices","tag-weyerhaeuser","topic-forestry","topic-industry-prices","topic-sawmilling","topic-wood-construction","area-north-america"],"acf":[],"yoast_head":"\nWood demand could stay strong for the next decade, says Weyerhaeuser CEO - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/wood-demand-stay-strong-next-decade-says-weyerhaeuser-ceo\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wood demand could stay strong for the next decade, says Weyerhaeuser CEO - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"The home-building and renovation boom could keep wood demand strong for the next decade, the biggest U.S. lumber producer said Tuesday. 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