Wood Markets News


Canadian Real GDP by Industry Increased 0.1% in September, Held Back by Five Consecutive Months of Construction Declines

Statistics Canada (StatsCan) reported today (11-30-21) that real gross domestic product (GDP) rose 0.1% in September. This occurred as declines in the manufacturing, construction, and retail trades were more than compensated for by expansions in service-producing industries, mining, quarrying, and oil and gas extraction. However, for the fifth consecutive month construction declined, down -0.7% in September.

Consumer Confidence Declined in November

The Conference Board, a non-partisan, not-for-profit think tank founded in 1916, released today (11-30-21) their Consumer Confidence Index® (CCI) for November 2021. The CCI declined in November following an uptick in October and decreases in August, July, and June. The Index now stands at 109.5 (1985=100), down from 111.6 in October.

Pending Homes Sales Up 7.5% in October 2021

The National Association of Realtors® (NAR) reported on Monday (11-29-21) that their Pending Homes Sales Index (PHSI) — based on signed real estate contracts, not actual closings for existing single-family homes, condominiums, and co-ops — increased 7.5% month-over-month in October 2021 to a reading of 125.2.

Canadian Pacific Railways’ Acquisition of the Kansas City Southern Railroad Moves One Step Closer to Reality With Mexican Regulators’ Approval

Canadian Pacific’s (CP) $31 billion plan to acquire the Kanas City Southern Railroad (KCS), creating a railroad that will link Canada, the US, and Mexico, cleared a major hurdle with the approval of Mexican regulators. The CP said on Friday that the US Surface Transportation Board’s (STB) review of the deal is expected to continue into the fourth quarter of next year.

California’s Wildfires Are Out, but Timber Industry’s Problems Are Beginning

In California, wildfires are an expected occurrence for the state’s timber industry and natural and restorative to these ecosystems. However, the severity of wildfires in 2020 and 2021 are expected to result in significant — some are calling it catastrophic — destruction in the timber industry, posing a threat to 32 million acres of territory blanketed by forests and the people who live and work there.

Segezha Group Signs Contract with AS Hekotek to Supply Pellet Equipment for Lesosibirsk Sawmills and Woodworking Plant (LDK No.1)

Segezha Group’s Lesosibirsk Sawmills and Woodworking Plant (LDK No.1) has signed a contract with AS Hekotek to supply equipment for its pellet production facility. The investment is valued at approximately 10.1 million Euros, and the production capacity is projected at 100 thousand tons per year. The facility is scheduled to be online in Q2 of 2023.