John A. Biewer Company announced that earlier this month it had shipped the first truckload from the company’s newest sawmill located in Winona, Mississippi. The facility is Biewer’s second facility in the South. When fully operational, it will have an annual production capacity of an estimated 250+ MMBF.
Wood Markets News
Mortgage Applications Drop for Fifth Consecutive Week in the Week Ending April 8, 2022
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending April 8, 2022, the Market Composite Index (a measure of mortgage loan application volume) declined -1.3 % on a seasonally adjusted basis from one week earlier.
Producer Price Index for Final Demand Increased 1.4% in March 2022
The Bureau of Labor Statistics (BLS) reported today (4-13-22) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 1.4% in March. This rise followed advances of 0.9% in February and 1.2% in January. On an unadjusted basis, final demand prices moved up 11.2% for the 12 months ending in March.
Plan to Restart a Northern Ontario OSB Mill Comes With $180 Million Investment
The Cossette family, a well-known Québec-based forestry family, which has operated Montreal-headquartered Forex since 1957, announced on Monday (4-11-22) that it was investing $180 million (CAD) to restart a shuttered OSB plant in Northern Ontario and hire approximately 140 people to staff it.
Ontario’s Government Promotes Forest By-Products to Generate Jobs and Clean Energy
A five-year plan to strengthen Ontario’s forest industry by expanding biomass projects that turn waste wood into energy and other useful projects has been announced by the provincial government. The plan is designed to open new markets, increase demand for bioenergy, and support Indigenous involvement in the biomass industry.
Consumer Price Index Increases 1.2% Month-Over-Month and 8.5% Year-Over-Year in March 2022
The U.S. Bureau of Labor Statistics (BLS) reported on Tuesday (4-12-22) that the Consumer Price Index for All Urban Consumers (CPI-U) increased 1.2% in March. This follows an 0.8% increase in February and a 0.5% in January. The all-items index continued to accelerate, rising 8.5% for the 12 months ending March.
Sterling Structural Providing Accessible CLT Solutions to the Construction Market
Sterling announced on Monday (4-11-22) that it is entering into the construction market. Sterling’s new business unit, Sterling Structural, will offer its TerraLam® CLT product lines as a scalable, sustainable, and affordable floor/roof solution for buildings that are compatible with a range of structural building materials.
The NFIB’s Small Business Optimism Index Declines for Third Consecutive Month in March 2022
The National Federation of Independent Business (NFIB), one of the largest small business associations in the U.S., reported today (4-12-22) that their NFIB Small Business Optimism Index decreased by -2.4 points to a reading of 93.2, the third consecutive month below the 48-year average of 98.
EU Adopts Fifth Round of Sanctions, Effectively Halting Russian Wood Exports to the EU
On Friday (4-8-22), the European Union (EU) adopted its fifth round of sanctions over Russia’s invasion of Ukraine. The new sanctions include import bans on wood, cement, fertilizers, seafood, and liquor. The new round of sanctions will effectively halt Russian wood exports to EU countries.
Fannie Mae’s Home Purchase Sentiment Index® for March Indicates Consumer Pessimism Toward Home Buying Has Grown
Fannie Mae on Thursday (4-7-22) reported its Home Purchase Sentiment Index® (HPSI) for March. According to the HPSI, consumer home purchasing sentiment declined by 2.1 points in March to a reading of 73.2. Year-over-year, the HPSI is down 8.2 points. On net, the “Good Time to Buy” component set a new survey low.