Black Knight Inc. on Monday released its latest Mortgage Monitor Report (MMR) for August. The median home price in August declined 0.98%, a slight improvement from July’s monthly decline of 1.05%.
Wood Markets News
Job Openings and Labor Turnover Summary Released for August 2022
On Tuesday, the US Bureau of Labor Statistics (BLS) reported the Job Openings and Labor Turnover Summary (JOLTS) for August 2022. The number and rate of job openings decreased to 10.1 million (11.1 million in July) and 6.2%, respectively.
Canadian Consumer Confidence Drops to Near-Record Lows
According to the Bloomberg Nanos Canadian Confidence Index (BBCCI) released on Monday, Canadian consumer confidence has dropped to near-record lows again amid growing concerns about the global economy.
Interfor Announces Agreement to Purchase New Brunswick-Based Chaleur Forest Products
Interfor Corporation announced today that it has reached an agreement with an affiliate of the Kilmer Group to acquire 100% of the equity interests in the entities comprising Chaleur Forest Products. Chaleur owns two sawmills in New Brunswick with a combined annual lumber production of 350 million board feet.
Roseburg Modernizing and Automating Pembroke, Ontario, MDF Facility
Roseburg announced on Friday that the automation and modernization of its Pembroke, Renfrew County, Ontario, MDF plant are continuing. The Pembroke plant produces a wide variety of high quality MDF products, as well as manufacturing MDF mouldings onsite.
Metsä Fiber’s New State-Of-The-Art Sawmill in Rauma, Finland, Is Fully Operational
Metsä Fiber, part of the Metsä Group, announced on Friday that its new state-of-the-art sawmill in Rauma, Finland, is now fully operational as a continuous sawn timber production facility. Its annual capacity is 750,000 cubic meters of pine sawn timber, and the annual use of pine logs sourced in Finland is ~1.5 million cubic meters.
Brazilian Exports of Wood-Based Products Decline Year-Over-Year in August 2022
According to the International Tropical Timber Organization, Brazilian exports of wood-based products (except pulp and paper) in August 2022 declined 2% in value compared to August 2021, falling from US$412.6 million in August 2021 to US$404.6 million in August 2022.
Monthly Construction Spending Declined in August 2022
On Monday, the US Census Bureau reported that total construction spending during August 2022 was estimated at a SAAR of $1,781.3 billion, 0.7% below the revised July estimate of $1,793.5 billion. The August figure is 8.5% above the August 2021 estimate of $1,641.6 billion.
US National Interagency Fire Center Wildfire Update Released for October 3, 2022
The US National Interagency Fire Center reported on Monday that the total number of large wildfires and complexes currently burning in the US dropped from 89 last Monday to 72, with more than 766,553 acres across 7 different states currently burning. One new wildfire has been reported within the past 24 hours.
Alberta Government Announces 20-Year Renewal of Forest Management Agreement With Weyerhaeuser
Alberta announced on Thursday that it has renewed the forest management agreement held by Weyerhaeuser for the next 20-years in exchange for important stewardship responsibilities. These agreements establish the company’s right to grow and harvest Crown timber from forest management units near Grande Prairie and Drayton Valley.