U.S. hardwood lumber exports increased for the fourth consecutive month in May (the last month for which data are available), totaling 114 million board feet (MMBF).

Shipments to non-Canadian destinations set a new monthly record of 93 MMBF. Chinese buying was quite strong in May, including 10 MMBF of Red Oak, 8 MMBF of Poplar, 7 MMBF of White Oak, 6 MMBF of Alder and 5 MMBF of Ash. Total Vietnamese purchasing was at an 8-month high of 11 MMBF. Moreover, exports to the 4 leading European destinations increased from the prior month.

U.S. hardwood log exports were also brisk in May even though shipments to China—the largest foreign market—were below the record level of April. Buyers in Vietnam purchased a record volume of U.S. hardwood logs in May, and that market will likely overtake Italy as the third leading foreign destination in the next couple of months.

 

Hardwood exports to Viet Nam escalating

 

U.S. hardwood log and lumber exports remained relatively strong in June. However, demand declined in China, Europe and several other markets through much of July. Some Chinese buyers have started to reenter markets over the last 7 to 10 days, but they are looking for sizeable discounts on Red Oak and White Oak prices.

 

 

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