Hunt Forest Products closed its Olla, Louisiana, hardwood sawmill, affecting about 30 employees, KALB reported.
Wood Markets News
US Existing-Home Seller Concessions Reach Record High for May
US home sellers gave concessions in 46.2% of sales in May, the highest May share in Redfin’s records, as buyers gained leverage.
Investment in Canadian Building Construction Increases in April
Building construction investment rose 2.3% to CA$23.6 billion in April, with residential up $491.9 million.
Portland, OR, School Modernization Project Breaks Ground With Mass Timber Design
Skanska broke ground on Portland’s Cleveland High School modernization, a major K–12 mass timber project using nearly 870,000 board feet of timber.
Louisiana Governor Signs Bill to Support Wood Pellet Manufacturing
Louisiana Gov. Jeff Landry signed a bill aimed at supporting wood pellet manufacturing through permitting and workforce measures.
US Home Improvement Spending Remains Near Record Levels Despite Slow Housing Turnover
HIRI reported that US home improvement spending remains near record levels as slow housing turnover leads more homeowners to reinvest in their existing homes.
US Housing Payments Hit One-Year High as Buyers Pull Back
The median US monthly housing payment hit $2,647, the highest level in a year, as high prices and mortgage rates weighed on buyers.
Canadian Consumer Price Index Rises 3.2% Year-Over-Year in May
Canada’s CPI rose 3.2% year-over-year in May, up from 2.8% in April, as gasoline prices climbed 33.2%.
Finland’s Koskisen Commissions New Channel Kilns at Järvelä Sawmill
Koskisen commissioned new channel kilns at its Järvelä sawmill, increasing drying capacity 15% as it targets 450,000 cubic meters of output.
US National Interagency Fire Center Wildfire Update for June 22
As of Monday, 31 large fires are actively burning across the US, with 2,714,021 acres burned year-to-date, NIFC reported.