Cash markets were not as active this week following the Canadian Thanksgiving holiday on Monday and with many of the industry traders away at NAWLA in San Antonio, TX. Yet sales liquidity remained ok while prices appeared to be moving off a bottom. WSPF #2&btr 2x4s are quoted in a range of $350 wholesale – $360 mill per Mbf. Quotes at this time last year were lower, trading in a range of $330 – $340 per Mbf.
The overall sales pace has improved over the past 14-days, while large volume orders remain hard to source. Jobsite take-away remains steady and mills keep tightening shifts and production. Log acquisition in decline, especially in the WSPF region. With so much supply leaking away and limited speculative buying, this market may be setting itself up for quite a ride higher ahead of the holiday season and year-end. In the near term, we see higher stepwise pricing ahead.