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Market Brief

Following are excerpts from the September Hardwood Leader: Our outlook for meaningful hardwood market recovery in 2015 grew a little dimmer given Chinese stock market and currency concerns, and mixed economic signals at home. Commercial and higher-end residential construction are doing well, but slower growth in residential mid-markets suggests underlying economic footings are still weak. New home starts and sales fell in June. Still, single-family permits reached an 8-year high and builder confidence hit a 10-year high. First-half U.S. hardwood lumber exports were off 9% from 2014’s record pace, which isn’t that bad, except that producers had geared up for another record year in 2015. As such, the imbalance between supply and demand has been much greater than the 9% export dip would suggest. Expect modest export volume gains through year-end to have a stabilizing effect on lumber prices. The Hardwood Leader contains essential forecasts for the industry. Call 704-543-4408 to subscribe.