Kaamos Timber, the Estonian wood industry company founded in 2003, has announced it is investing in a new sawmill in Mozyr, Belarus and they have selected Mühlböck as their drying technology partner. The new sawmill will incorporate the use of the Mühlböck dry kilns 1306 PRO.
Wood Markets News
Shares of Mortgages in Forbearance Decline for Ten Consecutive Weeks in Week Ending May 2, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 11 basis points from 4.47% of servicers’ portfolio volume in the prior week, to 4.36% as of May 2, 2021. According to MBA’s estimate, 2.2 million homeowners are in forbearance plans.
Job Opening and Labor Turnover Survey for March 2021
The U.S. Bureau of Labor Statistics (BLS) today (5-11-21) reported its Job Opening and Labor Turnover Survey (JOLTS) for March 2021. According to the JOLTS report, as of the last business day in March, the number and rate of job openings reached a series high of 8.1 million (+597,000) or +5.3%.
USDA Announces $15 million to Fund Grants to Develop and Expand the Use of Wood Products
U.S. Department of Agriculture (USDA) Secretary Tom Vilsak, announced on Friday (5-7-21), that the USDA is awarding more than $15 million to fund grant proposals to develop and expand the use of wood products, strengthen emerging wood energy markets, and protect community forests.
Fire Destroys New Sawmill in Northwestern Wisconsin
Firefighters from seven different communities’ departments spent five hours on Saturday (5-8-21) battling a fire in a new sawmill just outside the City of Cornell Wisconsin. According to Cornell Area Fire Department’s Assistant Chief Matt Boulding, the building, and its contents are a total loss.
Brazilian Exports of Wood-Based Products Increased 24% Year-Over-Year in March 2021
According to the International Tropical Timber Organization (ITTO), the value of Brazilian exports of wood-based products (except pulp and paper) in March 2021 amounted to US$321.9 million — an increase of 24% when compared to March 2020, when they were valued at US$206.6 million.
Canadian Mortgage Housing Corporation and Canadian Real Estate Association are Both Forecasting Higher Home Prices in 2021 and 2022
Less than a year ago with the COVID-19 pandemic gripping Canada, the Canadian Mortgage Housing Corporation (CMHC) predicted dire consequences for home prices. Housing prices could plummet, the now former president and CMHC CEO said between 9-18%. History and data have proved that prediction to be incorrect.
Bidding Wars on Homes are Keeping Some Active Buyers from Being Able to Make the Purchase
The National Association of Home Builders (NAHB) Housing Trends Report (HTP) is reporting that of the 16% of American adults considering a future home purchase in Q1 of 2021, 64% have moved beyond planning and are actively trying to find one to buy. That is up from the comparable 49% share a year ago.
West Fraser to Invest $150 million in Five U.S. South Lumber Mills
West Fraser Timber Company released their Q1 2021 earnings report on Thursday (5-6-21) in preparation for their earnings call on Friday, May 7, 2021. In the report, West Fraser announced in their lumber segment they expected to invest approximately $150 million at five of their U.S. South lumber mills under the strategic capital program.
First Major Revision to Alberta’s Forest Act in 50 Years is Now in Effect
The first major revision in 50 years to Alberta’s Forest Act went into effect on May 1, 2021. The results of the passage of Bill 40 should result in less red tape, provide greater flexibility in harvesting operations, and maintain existing forest management practices.