Following an industry consultation, Fastmarkets began assessing the Southern Pine #2 2×4 (eastside) price on a daily basis in April 2023 rather than twice weekly on Tuesdays and Thursdays. Fastmarkets kept its pricing data within its internal proprietary database, gathering increased liquidity and building 16 months of pricing history.
Fastmarkets will now publish the daily price and the pricing history on August 8 to coincide with the ongoing migration of Forest Products customers to the new digital platform (Fastmarkets Dashboard).
The increased frequency of the reported price of Southern Yellow Pine #2 2×4 (eastside) will provide the market with a clearer view of short-term market trends following several years of heightened price volatility.
The daily price is assessed in alignment with the International Organization of Securities Commissions (IOSCO) best standards for price reporting agencies (PRAs) and will be subjected to an external IOSCO audit in early 2025.
Specifications for the daily price are as follows:
FP-LBR-2227 Kiln-dried Southern Yellow Pine (eastside) 2 2×4 rl fob mill, Daily Price
Quality: #2&Btr
Dimension: 2×4
Quantity: carloads or truckloads
Location: f.o.b. mill
Timing: spot
Unit: per thousand board feet
Publication: daily, by 2:30 p.m. PT
To provide feedback on this plan or if you would like to provide price information by becoming a data submitter, please email pricing.forest@fastmarkets.com. Please add the subject heading ‘FAO: Joe Pruski, re: SYP daily price.’
