2nd Annual Hank Dahl Memorial Charity Golf Tournament Benefiting Habitat For Humanity - All proceeds…
With a short week there was delay on getting a market update out. However, the week was most uneventful. With some Canadian business in the west done the week previous, it was lack luster.
Retailers had covered immediate business. It looks as though the market is bench marking on the way down. With the mills heavy discount the week previous, they had firmed back up, and no follow through. The market is still volatile, as I think there is some pent-up demand.
The US market has been quiet. With nervous buyers out there watching for the bottom, it may not be there very long. However, this last year has proved that even experienced lumbermen have a hard time navigating these new extreme markets. What will the higher interest rates do to the Canadian market? As far as I can tell, the builders have this year taken care of.
With mills catching up to order file, we are seeing panels for early May, and wholesalers with contracts trying to make sure they are moving them through the chain. Everyone is aware of last year’s correction and are trying to keep inventories thin.
The osb market is coming on in chunks, which was due for a correction to get below plywood, but if the US market sparks it won’t be like this for long. Keep your eye on the market.