ScotiaBank Forest Products Pricing Index Edged Up in May 2014

Posted by Bill Esler | Posted: 07/11/2014 9:37AM

 

ScotiaBank says its Forest Products Index edged up in May 2014 and is slightly above a year earlier. Western Spruce-Pine-Fir lumber prices rebounded from a near-term low. Oriented Strand Board (OSB) rose $13 per thousand square feet.

The Forest Products Index edged up by 1.0% m/m and remains slightly above a year earlier (+2.1%). Western Spruce-Pine-Fir 2x4 lumber prices rebounded from a near-term low of US$338 per mfbm in April to US$342 in May.

OSB prices in the U.S. North Central region also advanced from US$210 per thousand sq. ft. to US$233. However, both lumber and OSB prices faded in the first half of June.

Buyers have been cautious about building inventories, given a somewhat disappointing rebound in U.S. housing starts in April/May 2014 (to 1.036 million units SAAR) following first-quarter weather-related weakness.

The Forest Products Index's lackluster pick-up partly reflects slow household formation linked to a high level of student debt and high unemployment among young adults, says ScotiaBank. A Gallup survey released earlier in 2014 indicates that 29% of U.S. adults under the age of 35 still live with their parents.

 

About the Author

Bill Esler, Woodworking Network, WMS

Bill Esler

Bill Esler, Editorial Director, Woodworking Network Bill is responsible for overall content at WoodworkingNetwork.com Woodworking Network magazine, and related newsletters. Bill also manages event programs for Woodworking Network Live conferences at the Woodworking Machinery & Supplies Expo in Toronto and Cabinets & Closets Expo. He developing audience engagement programs using custom digital printing, live lead-generating events, custom websites, and custom digital and print content. Read Bill Esler's woodworking blogs. He can be reached at besler@woodworkingnetwork.com or follow him on Google+.

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