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The downward price slide of recent weeks was unabated across most framing lumber species.
Uncertainty surrounding the economy and potential new developments in US trade policy contributed to a cautious market tone. Many traders lamented that they anticipated at least a modest decline in mortgage interest rates by now that has not materialized.
With discounts cutting deeper across most species, the Random Lengths Framing Lumber Composite Price tumbled $14. That’s the composite’s first double-digit drop since April 2024.
Downward price pressure intensified across the South. Deep discounts surfaced more frequently from producers seeking offers to clear mounting accumulations. Buyers’ perceptions shifted from uncertainty regarding the market’s next move in previous weeks to outright fear of downside risk.
Demand from treaters faded. Many covered needs through Memorial Day and beyond with earlier purchases and throttled back new orders. Competitively priced Western S-P-F crept deeper into traditional Southern Pine markets, especially lower grades, which contributed to the downward price pressure on SYP. You can subscribe to the Fastmarkets daily SYP newsletter here.
A moderately more active tone punctuated by several larger-volume purchases of Western S-P-F led to increased optimism among some traders that a bottom was close. However, those sales were spurred by steep discounts, and reported prices declined across grades and widths.
Lumber futures settled sharply higher on Thursday after a prolonged downward trend. The upward movement increased overall market confidence for some traders. The board traded near par with the physical market week to date.
In Coast and Inland markets, 2×6 was still weak across grades, especially in #2&Btr. 2×12 was also soft, with 2×10 not much better. In the last three weeks, 2×12 has dropped by more than $100 in some markets.
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