Sales of Western-Spruce-Pine-Fir construction framing dimension softwood lumber in the United States took a step back last week as civil unrest around the country led to most buyers taking a circumspect approach, by sitting on whatever inventory they had.

 

Construction in the Western portion of the US continued to ramp up, albeit more slowly, as overall economic activity was tamped down by protests. In Canada, meanwhile, demand from the most important markets in the US slowed to a crawl. Canadian producers of WSPF lumber noted a considerable lack of inquiry for standard grade commodities.

 

In the East, robust sales from late the previous week carried over to last week, before buyers became more thoughtful and took their collective foot off the gas. There was still plenty of volume being moved from midweek-on, but players described a pullback in overall demand.

 

In the immediate term it is panel — specifically plywood — prices which will provide indication of upcoming demand for softwood lumber. Benchmark panel item Oriented Strand Board prices remained flat last week but Canadian Softwood Plywood 3/8” Toronto rose another +$8, or +2%, to C$496 msf from C$488 the previous week. This price was C$414 msf one month ago, and C$440 in the same time last year.