Proposal to launch daily SYP price
Fastmarkets proposes to increase the frequency of assessment for Southern Yellow Pine #2 2x4 (eastside) with a new daily price.
Increased price volatility over the past several years has resulted in more frequent and severe changes to reported prices of Southern Yellow Pine. Market feedback suggests that increasing the frequency of the reported price of Southern Yellow Pine #2 2×4 (eastside) from its current Tuesday and Thursday publication to five times a week would provide the market with a clearer view of short-term market trends.
The potential daily price would represent a standard 8-20-foot random tally, consistent with the price reported in the Random Lengths lumber and midweek reports.
Initial feedback in favor of the change resulted in Fastmarkets piloting a daily price internally. In accordance with published methodologies, price reporters have compiled daily price data for this item since early January 2023.
Fastmarkets invites additional feedback on the proposed daily price until Monday, April 10. Fastmarkets will notify the market of its decision regarding the daily price and any proposed timeframe for the rollout on April 17.
Should market feedback prove supportive of a daily price for this item, an implementation date will be determined at that time. If the daily price moves forward, Fastmarkets will publish a price history for the item dating back to the start of the internal pilot period.
The price under consideration for a daily assessment is:
To provide feedback on this proposal or if you would like to provide price information by becoming a data submitter, please email firstname.lastname@example.org. Please add the subject heading ‘FAO: Joe Pruski, re: SYP daily price.’
To see all Fastmarkets RISI pricing methodology and specification documents see here.
To see all Fastmarkets RISI pricing notices please see here.