On Friday, Russia extended its prohibitive export duties on soft and hardwood rough-sawn lumber with moisture content in excess of 22%, which has been used as cover for exporting unprocessed timber, for three years until December 31, 2025.
Wood Markets News
International Paper and the National Fish and Wildlife Foundation Working With Texas Landowners to Restore and Manage Longleaf Pine Forests
International Paper (IP) and the National Fish and Wildlife Foundation are working with landowners in Texas to restore and manage forests through IP’s Forestlands Stewardship partnership. The Forestland Stewardship partnership was formed in 2013 to conserve and restore southern forestlands.
US Construction Spending in November Up Month-Over-Month and Year-Over-Year
The US Census Bureau reported that total construction spending during November 2022 was estimated at a seasonally adjusted annual rate of $1,807.5 billion, 0.2% above the revised October estimate of $1,803.2 billion. The November figure is 8.5% above the November 2021 estimate.
Australia’s Home Prices Suffer Largest Annual Decline Since 2008
According to CoreLogic, Australia’s housing market in 2022 experienced its largest annual decline since 2008, as sharp interest rate hikes weakened home buyers purchasing power and turned off would be investors.
Fire at Shuqualak Lumber Company Planer Mill Division Destroys One Kiln and Heavily Damages Another
Shuqualak Lumber Company, located in Shuqualak Mississippi, Planer Mill Division suffered a catastrophic fire on Monday (12-26-22) which destroyed one […]
Tolko Industries Announces Additional January Downtime at its Soda Creek and Armstrong Lumber Operations
Tolko Industries announced on Wednesday, (12-28-22) that as of January 2, 2023, its Soda Creek and Armstrong Lumber operations will […]
Homes for Sale Increase as Buyers Take More Time
Redfin reported on Thursday (12-29-22) that in the four-week period ending December 25th, the total number of homes for sale […]
30-Year Fixed Mortgage Rate Moves Higher
Freddie Mac has released its Primary Mortgage Market Survey® (PMMS) for the week ending December 29, 2022. The PMMS reports […]
US Weekly Jobless Claims for the Week Ending December 24th
The US Department of Labor is reporting that seasonally adjusted an additional 225,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, December 24, 2022. This is an increase of 9,000 from the previous week’s unrevised level of 216,000.
Pending Homes Sales Continued to Decline in November
The National Association of Realtors® (NAR) reported on Wednesday (12-28-22), that their Pending Homes Sales Index (PHSI) which is based […]