A 30-day delay in implementation of tariffs on Canadian shipments to the US reset recent trends in framing lumber markets. Sales picked up in most regions and species, but higher quotes early in the week retreated nearer to last week’s levels.
Western S-P-F sales were mixed, but several secondaries reported their strongest days of the year as buyers padded relatively thin inventories with insurance loads. Prices remained close to last week’s levels, but supplies of some items tightened in late trading.
Lumber futures swung from extreme volatility Monday and Tuesday to an upward trend towards the end of the week. The threat of tariffs drove prices up, but selling commenced after the delay.
The biggest gains were posted in green Fir, where a supply-side rally pushed Std/#2&Btr dimension prices $15-35 higher. The Random Lengths Framing Lumber Composite Price posted another modest adjustment, finishing $5 higher.
Most Southern Pine producers throttled back quotes closer to previously established levels after seeking steep premiums Monday and Tuesday morning. Buyer response to the tumultuous beginning was widely mixed. Some jumped out of the fray in early trading while waiting for a clearer direction regarding tariffs and near-term prospects to emerge.
Others, however, stepped in to secure coverage, citing a perception that supplies could tighten significantly in the coming weeks and months. By Thursday, more traditional supply and demand fundamentals governed trading.
Adjustments in 1-inch board prices remained mostly upward, with 1×6 the strongest width in key markets. Some quotes were elevated early, or late the week prior, because of the threat of tariffs, with a degree of sales taking place at those higher prices.
#2 2×4 gained $5-10 in all zones. 2×6 followed a similar pattern as mills cleared build-ups in that width. Prices in wider widths were mixed by length, but overall shifts were mild. Uncertainty regarding near-term direction kept most buyers focused on immediate needs. Lower grades grew more scarce, and many #3 and #4 prices climbed.
Timbers sales hit a higher gear, building momentum from the steady activity of recent weeks. A few westside producers noted a surge in orders. $5-15 price gains were common in both zones. Demand was most consistent for #2 4×4-8s and most lengths of 4×6. A gradual rise in demand for decking supported modest price gains. Treaters continued to stock up for spring.
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