Wood Markets News


Mortgage Applications Moved Higher in the Week Ending March 4, 2022

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending March 4, 2022, the Market Composite Index (a measure of mortgage loan application volume) increased 8.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increase 10.0% compared with the previous week.

Job Openings and Labor Turnover Summary Released for January 2022

On Wednesday (3-9-22), the U.S. Bureau of Labor Statistics (BLS) reported the Job Openings and Labor Turnover Summary (JOLTS) for January 2022. According to the JOLTS report, as of the last day in January, the number of job openings were at 11.3 million (a rate of 7.0%). The number of job openings was little changed in all four reporting regions.

LP Building Solutions Completes Sale of Stake in I-Joist Joint Venture to Resolute Forest Products

LP Building Solutions (LP) announced on Friday (3-4-22) that it has closed on the previously announced sale of its 50% equity interest in two joint ventures that produce I-joists to Resolute Forest Products Inc. The long-time partnership was established as an equity method investment in which both LP and Resolute Forest Products had a 50% interest in each entity.

Pacific BioEnergy Pellet Plant Permanently Closes

In December of 2021, Pacific BioEnergy announced that after 28-years of continuous operation it would be permanently closing its wood pellet plant in the Prince George B.C. area. PacBio said it had reached an agreement to assign some of its assets, including wood pellet long term sales contracts to the Drax Group.