The Index of Consumer Sentiment fell to 53.6 in October, down 2.7% from September and down 24.0% from a year ago.
Wood Markets News
West Fraser Lowers 2025 Lumber Shipment Targets Amid Weak Demand
West Fraser lowered its 2025 lumber shipment targets to 2.6–2.7 billion board feet of SPF and 2.4–2.5 billion of SYP, citing weak demand.
Southeastern Timber Products Completes Ackerman, MS, Sawmill Expansion
Southeast Timber Products has expanded its Ackerman, Mississippi, operations with a new $120 million sawmill, increasing capacity to 300 million board feet annually, WCBI reported.
Mercer Mass Timber to Expand Spokane Valley, WA, Facility
Washington state awarded $250,000 to Mercer Mass Timber to support its Spokane Valley expansion, complementing $30 million in private investment, The Journal of Business reported.
US Mortgage Rates Fall to Lowest Level in Over a Year
The 30-year fixed-rate mortgage averaged 6.19%, down from 6.27% the previous week and the lowest level in more than a year, Freddie Mac reported.
Shortages Push German Timber Prices to 35-Year High
German log prices have reached a 35-year high amid shortages, as sawmills warn of an “existential crisis” and experts call for increased harvesting, BR24 reported.
US Existing-Home Sales Rise in September
Existing-home sales rose 1.5% in September to 4.06 million units (SAAR), up 4.1% from a year earlier, NAR reported.
Oregon’s Tallest Mass Timber Tower Opens in Downtown Portland
Portland’s new Julia West House, Oregon’s tallest mass timber tower at 144 feet, provides 90 affordable apartments, Global Construction Review reported.
Southern Legislative Leaders Urge Congress to Support Forestry Sector Amid Tariffs
Southern state legislative leaders have asked Congress to address tariff and trade barriers affecting the forestry sector, The Arkansas Times reported.
EU Proposes Delaying EUDR for Small Operators Only
The EU proposes delaying its anti-deforestation regulation (EUDR) for small and micro operators only, while larger firms remain bound by the 2025 start date, Euractiv reported.