{"id":85971,"date":"2023-07-04T08:29:50","date_gmt":"2023-07-04T08:29:50","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/north-american-lumber-producers-are-booming-again\/"},"modified":"2025-09-19T09:00:19","modified_gmt":"2025-09-19T09:00:19","slug":"north-american-lumber-producers-are-booming-again","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/north-american-lumber-producers-are-booming-again\/","title":{"rendered":"North American lumber producers are booming again"},"content":{"rendered":"

\"\"<\/p>\n

Home construction boom suggests builders are going to need a lot more wood.<\/p>\n

Their stocks aren\u2019t quite as hot as home builders\u2019, but Weyerhaeuser WY 0.54% increase; green up pointing triangle, Boise Cascade BCC 1.05% increase; green up pointing triangle and others that own sawmills and make wood panels have been big winners lately, thanks to the recovery in residential construction.<\/span><\/p>\n

Housing starts rose in May to a seasonally adjusted annual rate of about 1.6 million, the Census Bureau said last month. That is 22% more than in April and the most since the Federal Reserve began raising interest rates early last year to cool the overheating property market and squelch inflation. It also means builders are going to need a lot more wood.<\/p>\n

\"\"<\/a>Wood-products firms were among the leaders of the pandemic stock rally, banking windfall profits when stuck-at-home Americans remodeled all at once and lumber prices shot to the moon.<\/p>\n

The stocks slumped when wood prices fell back to earth and higher interest rates slowed the housing market last year, but their star has risen anew with investors.<\/p>\n

Shares of sawmill owners Interfor and West Fraser Timber WFG 1.74% increase; green up pointing triangle along with Boise Cascade and Louisiana-Pacific LPX -0.07% decrease; red down pointing triangle, which specialize in engineered wood products, each rose more than 25% in June. Canfor CFPZF 1.47% increase; green up pointing triangle and Weyerhaeuser last month added 24% and 17%, respectively, compared with a 6.5% gain in the S&P 500 stock index. The sawyers have the pandemic\u2019s ultralow interest rates to thank for the jolt.<\/p>\n

Millions of Americans are locked into mortgage rates below 4% and face much higher borrowing costs if they move. The average rate on a 30-year mortgage was 6.71% this week, according to mortgage finance giant Freddie Mac. That is down from more than 7% last autumn but more than twice the rate two summers ago when lumber prices surged and droves of homeowners were refinancing their mortgages\u2014often taking cash out in the process to pay for renovations.<\/p>\n

Few existing homes for sale means new construction is the main option for many house hunters these days. Big home builders\"\"<\/a> like PulteGroup PHM 0.47%increase; green up pointing triangle and KB Home are ramping up construction of spec homes.<\/p>\n

Prices for two-by-fours and sheet products, such as oriented strand board used for floors and roofs, have perked up. Lumber futures have risen 15% since April, to $531 per thousand board feet. Pricing service Random Lengths said its framing lumber composite price, which tracks on-the-spot sales, ended the week at $438, up from $389 in late May. Panel prices crept higher this week as well.<\/p>\n

In the near-term, wood prices are more likely to rise than fall, said Ketan Mamtora, a BMO Capital Markets analyst. He noted forest fires disrupting production in Canada, flagging European imports and delayed effects from recent mill closures in British Columbia, where producers need relatively high prices to operate profitably.<\/p>\n

Raymond James on Wednesday added Weyerhaeuser\u2014which produces about 950,000 miles of lumber a year and more than enough wood panels to cover Manhattan four sheets thick\u2014to its list of top buys.<\/p>\n

The firm\u2019s analysts estimate that Weyerhaeuser\u2019s shares are trading at about 25% less than the value of the company\u2019s assets, which include 11 million acres of U.S. timberland and 35 mills.<\/p>\n

\u201cOur math suggests that investors can currently purchase the largest U.S. timberland portfolio at a healthy discount to private valuations, and get Weyerhaeuser\u2019s industry leading, low-cost wood-products manufacturing platform for free,\u201d they wrote in a note to clients.<\/p>\n

Truist analyst Michael Roxland upgraded Boise Cascade and Louisiana-Pacific to buy ratings Wednesday, citing the makers of engineered wood products\u2019 greater exposure to single-family home construction than commodity lumber producers, who sell into a variety of markets.<\/p>\n

\u201cThe worst of the housing slowdown is behind the industry,\u201d he said.<\/p>","protected":false},"excerpt":{"rendered":"

Home construction boom suggests builders are going to need a lot more wood. Their stocks aren\u2019t quite as hot as home builders\u2019, but Weyerhaeuser WY 0.54% increase; green up pointing triangle, Boise Cascade BCC 1.05% increase; green up pointing triangle … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":50441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-85971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nNorth American lumber producers are booming again - 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\/north-american-lumber-producers-are-booming-again\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"North American lumber producers are booming again - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Home construction boom suggests builders are going to need a lot more wood. 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