Business, Contracting, Markets 43 May 2024 Even as spring construction weather had not begun by March, lumber sales had improved to surpass the levels of one year ago. Producers are hopeful that lumber indices would increase into more profitable levels for the remainder of 2024. Following weaker demand for U.S. sawmill output last year, when volume dropped nearly 2% from 2022, Forest Economic Advisors (getfea.com) on March 6 forecast that U.S. and Canadian sawmills should experience increased demand this year of 2.4%, followed by another 4.4% rise in demand for output in 2025. Random Lengths Lumber Composite Price—$ per thousand bdft. lumber tally. The approximated lumber index listed below is a U.S. and Canada nationwide composite for various grades of structural lumber, reported by www.nahb.org/. Framing Lumber Price* 4/5/24 3/1/24 Year Ago Framing Lumber Composite Price[mbf] $420 $404 $420 * Source: National Association of Home Builders, reported from Random Lengths Lumber Composite Price—$ per thousand bdft. lumber tally. Log Markets In March, Washington’s reported domestic log prices on the westside compared to the prior month saw modest change up or down by 2%, while eastside log prices rose 2% to 3% month-overmonth. Domestic mill log prices shown below are WA pond values that are similar to Oregon’s. WA log prices are reported monthly online without fee by WA Dept. of Natural Resources, at: https://www. dnr.wa.gov/programs-and-services/ product-sales-and-leasing/timber-sales/ timber-sale-querylog-prices/. March 2024 WA Delivered Log Prices† WA Coast Region Species & Grade Mar Feb Year Ago Doug fir 2S 725 741 730 Hemlock 2S 550 539 542 Alder 3S 606 623 619 WA Eastside Region Species; camprun Mar Feb Year Ago Doug fir/larch 511 495 497 White fir/hem 463 467 483 Lodgepole 454 444 436 P Pine 405 398 400 † Source: WA Dept of Natural Resources; WA Mill Log Prices; Domestically Processed—$ per thousand bdft; average price; log scale, pond value.
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