The Canadian National Railway Co. (CN) on Friday afternoon (12-3-21) said it was aiming to reopen its rail network in southern British Columbia over this weekend. This followed another round of heavy rain and strong winds, which prompted a second shutdown of service. CN said on Friday that engineers and construction crews continue to work on the Vancouver-Kamloops corridor.
Wood Markets News
After Temporary Curtailment, LP’s Peace Valley OSB Mill Back to Operating at Full Capacity
During the forestry industry downturn in 2019, Louisiana Pacific (LP) made the difficult decision to temporarily curtail production at its Peace Valley OSB mill located in Fort St. John, B.C. LP’s goal was to keep the mill in “ready state,” and LP kept a small team of 20 employees at the mill.
USDA to Issue Final Pandemic Payments to Timber Harvesters and Haulers
The U.S. Department of Agriculture (USDA) announced on Thursday (12-2-21) it will begin issuing final pandemic assistance payments to timber harvesters and timber hauling businesses through the Pandemic Assistance for Timber Harvesters and Haulers (PATHH) program starting next week. In total, $200 million will be provided to loggers and log trucking businesses.
Egger Wood Products Announces $50 Million Investment in Their Davidson County, NC Facility
Egger Wood Products, an Austrian-based manufacturer of wood-based materials, announced on Thursday (12-2-21) that it intends to invest $50 million in additional equipment for its Davidson County, North Carolina facility. Eggers has 20 plants worldwide, but the plant located in Linwood, NC is its first North American facility.
Number of Homes for Sale Hits All-Time Low, While Median Home Prices Hit Another Record High
Redfin, the Seattle-based, technology-powered real estate brokerage, is reporting that the number of homes for sale hit an all-time low in the week ending November 28, 2021. According to Redfin, during that same period, sustained demand pushed the median home price to another record high.
Canadian Employment Increased and Unemployment Declined in November
Statistics Canada (StatsCan) reported today (12-3-21) that employment in Canada increased by 154,000 (+0.8%) in November and was 186,000 (+1.0%) higher than its pre-COVID level in February 2020. Employment increased in both the services-producing and goods-producing sectors in November.
U.S. Nonfarm Payroll Increases by 210,000 in November, Unemployment Declines to 4.2%
The U.S. Bureau of Labor Statistics (BLS) reported today (12-3-21) that total nonfarm payroll employment increased by 210,000 in November. This growth follows increases of 531,000 in October, 194,000 in September, 235,000 in August, 1.1 million in July, and 962,000 in June. Nonfarm payroll employment has increased by 18.5 million since April 2020 but is down by -3.9 million.
Paper Excellence’s Powell River, B.C. Catalyst Mill to Shutdown Indefinitely
In a news release issued today (12-2-21), Paper Excellence said that the status of its Catalyst mill located in Powell River, B.C. was being changed from a temporary curtailment (announced two weeks ago) to an indefinite shutdown, as of today. Paper Excellence also stated that they intended to look for alternative uses for the facility and its adjacent land.
Indigenous Leaders and Experts in B.C. Present their Concerns Regarding Old-Growth Deferred Logging
While emphasizing the importance of preserving at-risk ecosystems, indigenous leaders and experts in British Columbia presented their concerns on Wednesday (12-1-21) over the B.C. provincial government’s process to defer logging in old-growth forests. On November 2, 2021, the province announced that an independent panel of scientific experts had mapped out 26,000 square kilometers of old-growth forests at risk of permanent biodiversity loss.
Södra Wood Announces Temporary Production Adjustment in December
Södra Wood will be making a temporary adjustment of production to achieve a balance between production and customer needs. In December, sawn timber production will be reduced by 60,000 m³. In a statement prepared to accompany the production adjustment, Peter Jhaveri, President of the Södra Wood said, “Production will be adjusted to achieve a balance between production and customer needs.”