The BID Group, one of the largest integrated suppliers to the wood processing industry and the North American leader in the field, has received an order from Georgia-Pacific to deliver a new sawmill at its Pineland, Texas operation. The new sawmill will replace the existing stud sawmill.
Wood Markets News
Softwood Logs Shipping Off of Kangaroo Island to Support South Australia’s Booming Housing Industry
Help to support Australia’s booming housing construction industry will soon be on its way. Up to 60,000 tons of softwood logs, some of them bushfire-affected, will soon be shipping off of Kangaroo Island.
SDS Lumber and Timber Co. Reveals the Names of the Company’s Buyers
SDS Lumber and Timber Co. has been a forest products industry fixture since the 1940’s. The Bingen, Washington-based company manages nearly 100,000 acres of Pacific Northwest forest reserves on top of it mill operations. Late last week, a consortium of three separate entities were announced as the new owners.
Mortgage Rates Fall Back Below 3% During the Week Ending October 7, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending October 7, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.99% with an average 0.7 point, down slightly from last week when it averaged 3.01%. A year ago, at this time, the 30-year FRM averaged 2.87%.
Weekly Jobless Claims Decline in the Week Ending October 2, 2021
The U.S. Department of Labor is reporting that an additional 326,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, October 2, 2021. This is a decrease of 38,000 from the previous week’s unrevised level. The 4-week moving average was 344,000, an increase of 3,500 from the previous week’s unrevised average.
U.S. Job Cuts Increased 14% in September, Challenger Reports
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.
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.