The Canadian Mill Services Association has completed a purchase agreement with the BC Council of Forest Industries to acquire the COFI Quality Control operations and to merge them into CMSA.
Wood Markets News
HS Timber Group to Purchase Vika Wood From Bergs Timber
Austria-based HS Timber Group announced an agreement to acquire 100% of the shares in Latvian wood processing company Vika Wood SIA from Swedish owner Bergs Timber AB.
US Mortgage Rates Creep Higher in the Week Ending January 9
The 30-year fixed-rate mortgage averaged 6.93%, up from last week when it averaged 6.91%, Freddie Mac reported.
US Asking Rents Decline in December
The median US asking rent fell 0.3% year-over-year to $1,594 in December, the lowest level since March 2022, Redfin reported. On a monthly basis, rents were down 0.1%.
US Mortgage Credit Availability Increases in December
The MBA Mortgage Credit Availability Index increased 0.7% to a reading of 96.6 in December.
US Private Sector Job Cuts Drop in December
US employers announced 38,792 job cuts in December, a 33% drop from November’s 57,727, according to Challenger, Gray & Christmas. However, this marks an 11% increase year-over-year.
US Port Workers and Operators Reach Agreement, Averting Second Strike
Late Wednesday, East and Gulf Coast port operators reached a tentative agreement with a dockworkers’ union, CBS News reported.
Biden Administration Withdraws Old-Growth Forest Protection Plan
The Biden administration is withdrawing its plan to protect old-growth forests after receiving increasing pushback from Republicans and the US timber industry, the AP reported.
British Columbia Planted Over 280 Million Trees in 2024
More than 280 million trees were planted in British Columbia forests in 2024, the BC Ministry of Forests announced.
US Wood Pellet Exports Rebound in November
The US exported 873,783.9 metric tons of wood pellets in November, up from 839,226.4 metric tons in October, Biomass Magazine and the USDA reported.