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Traders reported some of the strongest activity of the year to date in many species, with prices firming or moving higher in most regions. The stronger pace of sales emerged despite adverse weather conditions across many parts of the continent and stubbornly elevated mortgage interest rates.
The Random Lengths Framing Lumber Composite Price finished $9 higher, its largest weekly increase since November 2024.
In Western S-P-F, sales of most items increased, but 2×4 was a standout. That item tightened through the week and mills raised quotes repeatedly and sold at higher levels. Demand for other widths was steady, but prices were mostly unchanged.
Lumber futures provided additional support for the cash market, surging $23.00 higher on Wednesday following a pair of mildly down days to start the week. The March contract traded at a premium to the physical market in most species.
Green Fir, one of the strongest species in North America in recent weeks (see Through a Knothole), lost steam due to inclement weather all along the West Coast. Still, most dimension prices posted double-digit increases.
Some Southern Pine mills raised quotes aggressively, in part due to a perception that Spruce from Canada could tighten and prices could rise sharply, strengthening demand for SYP as an alternative. However, buyers resisted the higher quotes, citing ample availability of both Canadian Spruce and Southern Pine.
Southern Pine buyers replenished conservatively while waiting for a clearer picture of near-term prospects to surface. Snow and freezing temperatures stifled consumption in northern-tier markets. Heavy rains had the same effect along the Eastern Seaboard and much of the Southeast.
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