Statistics Canada reported Wednesday that prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), inched up 0.1% month-over-month in March, following a 0.6% decline in February. Year-over-year, the IPPI was down 1.8%.
Wood Markets News
Mortgage Applications Decline in the Week Ending April 14th
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey for the ending April 14th, the Market Composite Index—a measure of mortgage loan application volume—decreased 8.8% on a seasonally adjusted basis from one week earlier.
US Housing Starts, Permits, and Completions All Fell in March
The US Census Bureau on Tuesday reported that privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,420,000. This is 0.8% below the revised February estimate of 1,432,000 and 17.2% below the March 2022 rate of 1,716,000.
Boreal Carbon Corporation Acquires 20,000 Acres of Northern Ontario Timberland
Boreal Carbon Corporation, a private Canadian company with a vision of becoming a leading carbon credit developer, announced Tuesday that it has closed on the acquisition of 20,000 plus acres of institutional-quality timberland located in Northern Ontario.
Tolko Announces Permanent Elimination of Second Shift at Its Soda Creek Sawmill Facility
Sixty-five employees at Tolko’s Soda Creek Sawmill will be without work, as the company announces its plans to permanently eliminate the second work shift, according to a local report by “CFJC Today.” Tolko says it will work with its employees to determine a date for the change.
Stoltze Timber Systems Awarded $1 Million in US Forest Service Funding for Development of Wood Processing Plant
Stoltze Timber Systems, located in Columbia Falls, Montana, is receiving $1 million in US Forest Service funding to support the development of a wood processing plant and allow the implementation of new timber water crossings.
LP Building Solutions Announces First Production of LP SmartSide at Its Sagola, Michigan, Facility
LP Building Solutions recently announced that the first production of LP SmartSide products at its Sagola, Michigan, facility was produced on March 15th, followed by the production the first APA-approved SmartSide board on April 7th.
Canadian Consumer Price Index Posts Smallest Increase Since August 2021
Statistics Canada reported Tuesday that the Canadian Consumer Price Index (CPI) rose 4.3% year-over-year in March, following a 5.2% increase in February. This was the smallest increase since August 2021 when it was 4.1%.
BC and Canadian Federal Government Reach Settlement Agreement With Five First Nations on Treaty Land Entitlement Claims
On Saturday, five First Nations in BC, alongside government representatives, announced settlement agreements of the Nations’ Treaty Land Entitlements claims. The settlements resolve long-standing claims that these First Nations did not receive all the lands owed to them under a 1899 treaty.
US Builder Sentiment Up for Fourth Consecutive Month in April
On Monday, the National Association of Home Builders/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes increased 1 point in April to a reading of 45—the fourth consecutive month of gains.