{"id":85705,"date":"2023-06-13T09:00:44","date_gmt":"2023-06-13T09:00:44","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/canadian-wildfires-trigger-concerns-of-lumber-price-surge-and-supply-shortage\/"},"modified":"2025-09-19T09:00:11","modified_gmt":"2025-09-19T09:00:11","slug":"canadian-wildfires-trigger-concerns-of-lumber-price-surge-and-supply-shortage","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/canadian-wildfires-trigger-concerns-of-lumber-price-surge-and-supply-shortage\/","title":{"rendered":"Canadian wildfires trigger concerns of lumber price surge and supply shortage"},"content":{"rendered":"

\"\"<\/p>\n

Lumber futures have increased to a 7-week high of $513 per thousand feet mark, due to massive wildfires in Canada that are expected to result in a shortage of softwood lumber in the United States. More than 400 wildfires in Canada have already burned 8,000,000 acres of forest. <\/span>Still, the demand for lumber in the US has been subdued due to the impact of high-interest rates on the housing market. The Federal Reserve hiked rates 10 times since March last year, pushing borrowing costs to their highest since September 2007.<\/p>\n

\"\"<\/a>As the wildfires continue to burn in Alberta, Canada, along with other regions of the country, thick layers of smoke and hazy skies descended on the Northeast this week.<\/p>\n

On June 7, New York declared that it had the worst pollution in the world while the smell of smoke expanded throughout the region. An image of Yankee Stadium posted online that afternoon looked as if the ballpark had been dropped onto the landscape of Mars.<\/p>\n

Sporting events and Broadway shows were canceled in the city while recess and gym classes moved back indoors in the suburbs. Warnings for residents to stay inside were issued frequently.<\/p>\n

But the fires did not happen overnight and actually began as far back as March.<\/p>\n

As of June 5, the fires in Canada had burned well over 9 million acres as the country has witnessed more than 2,200 fires this year. There are about 425 fires across Canada with more than half out of control, authorities have said.<\/p>\n

On the lumber front, the situation is causing some to speculate how the fires will impact prices.<\/p>\n

Wildfires in Canada's forests during the melting of winter snow can induce a sense of panic among lumber customers. The timing of these fires often coincides with the tail end of the logging season, which is different from when housing and lumber sales typically thrive.<\/p>\n

It is worth considering that the fires have occurred away from Canada's sawmill population. While the log supply is expected to remain robust, there is potential for the market to interpret the fires as having a negative impact, potentially leading to higher prices.<\/p>\n

Factors such as sentiment and perception also play a role in shaping market dynamics in relation to the wildfires.<\/p>\n

In an email response to HBSDealer, Canfor Vice President of Communications, Michelle Ward, gave a breakdown of the company\u2019s current view.<\/p>\n

\u201cWe are actively monitoring the wildfires in British Columbia and Alberta,\u201d Ward told HBSDealer. \u201cCurrently none of our manufacturing facilities are curtailed as a result of the wildfires.\u201d<\/p>\n

\u201cWe continue to adjust our operating rates to align with market conditions,\u201d Ward added.<\/p>","protected":false},"excerpt":{"rendered":"

Lumber futures have increased to a 7-week high of $513 per thousand feet mark, due to massive wildfires in Canada that are expected to result in a shortage of softwood lumber in the United States. 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