Red oak and white oak supply could outstrip demand. White oak exports to Italy, Spain and Portugal fell a combined 25 percent year-on-year through April; while German and British imports were up 14 percent.
U.S. residential furniture shipments posted double-digit gains for sixth straight month and demand for U.S. hardwoods is expected to slow due turmoil in Europe.
Red oak and white oak hardwood lumber prices will remain relatively stable with red oak firming during first half of forecast window and softening in second. Chinese white oak demand will offset declines in European demand.
Hardwood Review editors recap availability status of yellow birch, cerry wood, hard maple, red oak, poplar and walnut - with some sellers sitting on inventory they couldn't move.
Many timber yards have reduced the number of thicknesses, grades and species of lumber that they inventory. Flooring plants were operating at modest production levels. China is stimulating domestic markets.