Dunkley Lumber Company has announced that it is making a substantial investment to upgrade its Edgewood Forest Products operation. The company website says the Edgewood facility currently has an annual production capacity of 140 million board feet of SPF stud lumber and boards.
Wood Markets News
First Movement of Welsh Timber via Rail Since 2005 Successfully Completed
The last time a freight train carrying Welsh timber left Aberystwyth, Wales, heading through Newton and Welshpool, was 2005. That is until recently, as a trial was just conducted to see if regular freight traffic can return on the Cambrian line.
Mortgage Credit Availability Tightened For Second Consecutive Month in April 2022
According to the latest Mortgage Bankers Association (MBA) Mortgage Credit Availability Index (MCAI), which analyzes data from the ICE Mortgage Technology, mortgage credit availability decreased in April. The MCAI declined by -3.2% to a reading of 121.1 in April.
The NFIB’s Small Business Optimism Index Declines for Fourth Consecutive Month in April 2022
The National Federation of Independent Business (NFIB) reported today that their NFIB Small Business Optimism Index was unchanged in April, holding steady at a 93.2, the fourth consecutive month below the 48-year average of 98.
Resolute Forest Products Begins Work on Its $17 Million Upgrade to Fort Williams First Nation Sawmill
Resolute Forest Products held a groundbreaking ceremony on Friday for its $17 million (CAD) upgrades at its sawmill at Fort William First Nation. According to an earlier press release, the project will improve log and lumber handling capabilities and increase the mill’s capacity by as much as 40 million board feet
Stora Enso Strengthens Its Position in France With Purchase of 35% Stake in ACDF Indstrie SAS
Stora Enso has announced that it has invested in the French wood process company ACDF Indstrie SAS. Stora Enso has taken a 35% stake in the company. According to the company website, the investment is aligned with Stora Enso’s growth strategy for mass timber building elements, enabling value-added, bespoke cross-laminated timber (CLT) solutions to its long-term French partners.
Total Value of Canadian Building Permits Declined in March 2022
Statistics Canada reported on Monday that the total value of building permits in Canada declined -9.3% in March to a value of $1.7 billion (CAD). The decline was mainly due to the non-residential sector, which was down -29.5% to $3.7 billion. On a constant dollar basis, the total value of building permits was down -11.5% to $7.6 billion in March.
Fannie Mae Home Purchase Sentiment Index for April Drops to Its Lowest Level Since May 2020
On Monday, Fannie Mae reported its Home Purchase Sentiment Index (HPSI) for April. The HPSI was down -4.7 points to a reading of 68.5 in April, its lowest level since May 2020, as consumers expressed growing concerns about housing affordability and rising mortgage rates. All six components of the HPSI were down month-over-month.
Federal Reserve Releases Its G.19 Report; Consumer Credit Increases in Q1 2022
The U.S. Federal Reserve has released its latest G.19 Consumer Credit Report (CCR) for Q1 of 2022. According to the CCR, non-real estate secured consumer credit increased at a seasonally adjusted annual rate of 9.7%, with revolving debt growing at 21.4% and nonrevolving debt at 6.1%.
Memorandum of Understanding Strengthens Secwepemc Value-Added Supply Chain
A press release on Friday announced the signing of a Memorandum of Understanding (MOU) between B.C.’s Adams Lake Indian Band, Gilbert Smith Forest Products, and Woodtone Specialties. The MOU establishes a framework for the three parties to identify opportunities for cooperation, joint ventures, and shared decision making.