{"id":88209,"date":"2024-10-29T07:43:07","date_gmt":"2024-10-29T07:43:07","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/market-tone-is-finally-changing-in-north-american-sawmill-industry\/"},"modified":"2025-09-19T09:03:03","modified_gmt":"2025-09-19T09:03:03","slug":"market-tone-is-finally-changing-in-north-american-sawmill-industry","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/market-tone-is-finally-changing-in-north-american-sawmill-industry\/","title":{"rendered":"Market tone is finally changing in North American sawmill industry"},"content":{"rendered":"<p><span id=\"more-36593\"><\/span>US housing trends increased considerably overall in August 2024, according to US Census data. Revised housing starts were 1.356 million units (Seasonally Adjusted Annual Rate, SAAR), an increase of 9.6% from 1.237 million units in July (revised). In August, single-family starts were 0.992 million units, an increase of 15.8% month-over-month, up from 0.857 million and representing 73% of total starts (vs. 72% in August 2023). However, multi-family starts fell by 6.7% from 0.357 million units in July (revised) to 0.333 million in August.<\/p>\n<p>September US housing starts totaled 1.354 million units, with single-family homes representing 1.027 million units and multi-family at 327,000 units.<\/p>\n<p>Mortgage rates reduced to around 6.5%, and housing became slightly more affordable for some buyers due to the US Fed interest rate cut. Median home prices have been on an upward trend, and market evidence points toward slow existing home sales, with transaction volumes dipping below 3.9 million units and new home transaction volumes under 3.5 million in August. Low sales volumes will adversely impact lumber and panel markets for the rest of 2024.<\/p>\n<p>US softwood lumber production in the first seven months of 2024 was lower by 3.0% (to 21.45 billion BF; 34.4 million m\u00b3 net) compared to the same period in 2023. US West lumber production was down by 2.6%, Southern Yellow Pine (SYP) production was down by 3.5%, and the rest of the US was lower by 1.0%. Very low lumber prices in the US South caused some mill closures as well as production curtailments, resulting in decreased output.<\/p>\n<p>US softwood lumber imports were lower by 0.5% in the first seven months of 2024 to 9.1 billion BF. Imports from Canada increased by 3.3% to 7.18 billion BF, while imports from Europe were lower by 16% to 1.53 billion BF (2.5 million m\u00b3). The leading European importers were Germany, Sweden, and Austria, which represented 87% of European shipments to the US.<\/p>\n<p>Canada\u2019s lumber output was higher by 4.4% to 12.3 billion BF (19.5 million m\u00b3 net) in the first seven months of 2024 vs. 2023. British Columbia production was lower by 2.8% to 4.01 billion BF (6.4 million m\u00b3) (COFI Connect). Canadian softwood lumber exports through the first eight months of 2024 were 9.13 billion BF, an increase of 2.7% compared to the previous year (COFI Connect). Canadian lumber exports to the US were 8.13 billion BF, or 2.5% higher compared to the same eight months in 2024. Exports to Japan were 27.5% higher at 300 million BF, while exports to China decreased by 11% to 394 million BF.<\/p>\n<p>North American lumber prices bottomed in July and have since been steadily increasing. While weak sawmilling margins are still evident in North America, the market tone is finally changing. Sawmills in the US South are making good margins, while mills in British Columbia and the US Pacific Northwest are getting closer to break-even levels.<\/p>\n<p>US pulpwood prices vary by region and season. In the Lake States region, Q3 hardwood roundwood prices remained flat quarter-over-quarter and were up 7% year-over-year. Softwood roundwood prices were down USD 1 in the Lake States and were up 5% year-over-year. In the South Central region, hardwood roundwood and softwood roundwood prices remained flat, while year-over-year, hardwood was down 6% and softwood was down 3%. The South Atlantic region roundwood prices rose from last quarter, with supply and operations in flux due to two highly destructive storms. Hardwood roundwood prices were up USD 1 over last quarter and 9% year-over-year, while softwood roundwood prices were up USD 2 from last quarter and 6% year-over-year. Northeast region prices for hardwood and softwood roundwood were flat compared to last quarter and were up 2% for both hardwood roundwood and softwood roundwood year-over-year. Lastly, Pacific Northwest softwood roundwood prices were stable from last quarter and were down 6% year-over-year.<\/p>\n<p>Pacific Northwest Douglas-fir (DF) average log prices declined in Q3 2024 through August. Prices were continuing to decline most in the Willamette Valley, while holding the best in the Puget Sound, where nominal 2-Saw prices declined about 5.2% as of August YTD. Monthly average nominal DF 2-Saw prices across regions were down 9.1% through August YTD. Monthly average nominal Whitewood 2-Saw prices were down 7.3% August YTD across regions, down 12.4% in the Puget Sound region, down 7.2% in the Columbia River region, and down 2.2% in the Willamette Valley region.<\/p>\n<p><strong>Outlook<\/strong><\/p>\n<p>US hardwood lumber demand was slow in Q3, causing inventories to build up despite cuts to production. Prices were not heavily discounted, as wood products manufacturers continued to operate cautiously. Future rate cuts from the US Fed are expected to be a catalyst for stronger demand from the housing sector. Hardwood lumber exports have been increasing modestly in 2024, up 5% by volume year-over-year in July. In Q3, while demand from China and Japan has slowed, countries like Thailand, Indonesia, and Vietnam have shown increasing demand year-to-date through July. Shipments of red oak, poplar, and walnut to Asia have soared, with log export volumes of walnut and poplar far outpacing lumber exports. Demand for US hardwood lumber from Europe was up 2% year-over-year in July, with 69% of exports going to the UK.<\/p>","protected":false},"excerpt":{"rendered":"<p>US housing trends increased considerably overall in August 2024, according to US Census data. Revised housing starts were 1.356 million units (Seasonally Adjusted Annual Rate, SAAR), an increase of 9.6% from 1.237 million units in July (revised). In August, single-family &hellip; <a href=\"https:\/\/www.timberindustrynews.com\/ro\/market-tone-is-finally-changing-in-north-american-sawmill-industry\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/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":[4716],"tags":[],"class_list":["post-88209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market tone is finally changing in North American sawmill industry - 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\/market-tone-is-finally-changing-in-north-american-sawmill-industry\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market tone is finally changing in North American sawmill industry - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"US housing trends increased considerably overall in August 2024, according to US Census data. 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