North American hardwood lumber exports slowed in July due to summer holidays, Ramadan, as well as ample supplies in some countries, which kept many international buyers off the market in July.
Hardwood lumber demand remains strong but growth is expected to slow in second half due to decline in remodeling projections and residential construction.
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.
Business for hardwood lumber companies continues to show improvement with higher demand noted from architectural millwork and commercial fixture manufacturers.
Hard maple prices expected to climb on cabinets sales and poplar demand will increase on growth in remodeling, homebuilding and commercial construction.
If domestic and export demand for North American hardwood lumber both increase over the next six months, as expected, the hardwood industry may find it difficult to produce enough lumber.