Wood Markets News


Canfor to Reduce Production Capacity at Plateau Sawmill by 150 Million Board Feet

Canfor Corporation announced on Tuesday (2-15-22) the permanent reduction of 150 million board feet of production capacity at its Plateau Sawmill to resize the facility and align it with the available, sustainable timber supply in the region following the devastating impacts of the Mountain Pine Beetle infestation and other constraints on the timber harvesting land base.

Canadian Home Sales Edge Higher Month-Over-Month but Remain Down Year-Over-Year in January

According to statistics released on Wednesday (2-16-22) by the Canadian Real Estate Association (CREA), home sales recorded over Canadian MLS® Systems edged up 1% between December 2021 and January 2022. CREA is reporting that activity has been generally stable now for four months, running in between the record-highs of last spring and the slowdown posted last summer.

Canadian Consumer Price Index Up 0.9% in January; Inflation Rises 5.1% Year-Over-Year

Statistics Canada (StatsCan) reported today (2-16-22) that Canadian inflation in January 2022 surpassed 5% for the first time since September 1991, rising 5.1% on a year-over-year basis and up from a 4.8% gain in December 2021. The Canadian Consumer Price Index (CPI) increased 1.0% on an annual average basis in January 2022. On a monthly basis, the CPI rose 0.9% in January.

Mortgage Applications Decline for Second Consecutive Week in the Week Ending February 11, 2022

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending February 11, 2022, the Market Composite Index—a measure of mortgage loan application volume—decreased -5.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined -3.0% compared with the previous week.

Home Builder Sentiment Slips Again in February

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported on Wednesday (2-16-22) that builder sentiment in the market for newly built single-family homes edged 1-point lower in February to a reading of 82. This marks the second consecutive month the HMI has slipped 1-point lower.

Stora Enso to Invest 9 Million Euros in Automated Cross-Laminated Timber Coating Line at Ybbs, Austria Sawmill

Stora Enso announced on Friday (2-11-22) that it will be investing 9 million euros in an automated cross-laminated timber (CLT) coating line at their Ybbs sawmill in Austria. In the news release, the company said the investment will further strengthen its position as a leading global provider of engineered wood products for low carbon, sustainable buildings.