Rising demand from both domestic and international markets tightened supplies, pushed up prices, and kept hardwood markets stronger than many expected in the first quarter of 2013.
With record hardwood lumber exports prices continue to climb with some exporters running out of wood to sell and some buyers suspending purchases until prices fall.
Gains in residential and commercial construction will help spur sales for red oak and poplar. Exports also remain brisk. The outlook for white oak, however, is not as good.
Expanding residential flooring sales in North America and exploding Chinese consumer demand for American oak in flooring and other furnishings will drive additional red oak price increases.
Business for hardwood lumber companies continues to show improvement with higher demand noted from architectural millwork and commercial fixture manufacturers.