According to the latest released Job Cut Report from Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, U.S.-based employers’ announced job cuts rose by 14% in September to 17,985, up from the 24-year low of 15,723 cuts announced in August. September 2021 total is 85% lower than September 2020, when 118,804 cuts were announced.
Wood Markets News
CalPlant Enters into Plan Support Agreement, Files for Chapter 11 Bankruptcy while Pursuing Sale of the Company
CalPlant I, LLC (“CalPlant” or the “Company”), a Northern California-based company focused on manufacturing sustainably sourced building products, today (10-5-21) announced it has entered into a Plan Support Agreement (the “PSA”) with its senior bondholders, while pursuing a sale of the Company. To facilitate the sale process and implement the PSA, the Company has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware.
California Governor Vetoes Tropical Deforestation Bill — Cites Added Burden on Small Businesses Trying to Participate in State Contracts
On Wednesday (10-6-21), California Gov. Gavin Newsom vetoed a bill that would have required businesses selling certain products to the state to prove they’re not contributing to tropical deforestation. Environmental advocates had hoped Newsom would make California the first state to limit contracts to businesses that can prove their supply chains don’t engage in the destruction of tropical forests, which is a major contributor to global climate change.
Segezha Group Building New Plywood Processing Shop and Upgrading Existing Production Lines at Vyataky Plywood Mill
The Segezha Group has announced that it is investing approximately RUB 5 billion ($69 million) in constructing a new plywood processing shop and is upgrading their existing production lines at its Vyataky Plywood Mill in Kirov, Russia.
Brazil’s Log Exports Increase 186% Year-Over-Year in September 2021
According to Lesprom Analytics, the export of logs from Brazil jumped 186.0% year-over-year in September 2021 to 357.6 thousand m3. The value of those exports increased 224.3% to $27.6 million. The average price of logs increased 13.4% to $77.3 per m3.
Mortgage Applications Decline in the Week Ending October 1, 2021 — The Second Consecutive Week
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending October 1, 2021, the Market Composite Index — a measure of mortgage loan application volume — decreased -6.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -7% compared with the previous week.
ADP Reports Private Sector Employment Increased by 568,000 Jobs in September
According to the September ADP® National Employment Report™ nonfarm private sector employment increased by 568,000 jobs from August to September. The ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics.
New Brunswick Woodlot Owners Question Province’s Timber Royalty Collection Methods During 13-Month Lumber Market Price Surge
Taking full advantage of the higher lumber prices being charged by sawmills and the increased profitability those prices were generating during the recent 13-month lumber price surge, Alberta raised the price of logs coming off the Crown’s land several times and collected additional timber royalties.
Lendlease Announces Partnership with Stora Enso to Develop Sustainable Building Materials
In a bid to slash the embedded carbon from its buildings, Lendlease, the international real estate group, announced last week at an event in Milan, Italy that it has launched a new partnership with a leading supplier of sustainable wood for construction, Stora Enso. The announced partnership follows 10 years of collaboration between the two companies on eight sustainable timber buildings.
Brazilian Exports of Wood-Based Products Increased 41.4% Year-Over-Year in August 2021
According to the International Tropical Timber Organization (ITTO), the value of Brazilian exports of wood-based products (except pulp and paper) increased 41.4% in value year-over-year from US$292.5 million in August 2020 to US$413.6 million in August 2021.