The Bureau of Labor Statistics (BLS) reported today (7-14-21) that the Producer Price Index for final demand, seasonally adjusted, increased 1.0% in June. Final demand prices rose 0.8% in May, 0.6% in April, 1.0% in March and 0.5% in February. On an unadjusted basis, the final demand index moved up 7.3% for the 12 months ended in June.
Wood Markets News
Mortgage Applications Jump 16.0% in the Week Ending July 9, 2021, Ending 2-week Downturn
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending July 9, 2021, the Market Composite Index — a measure of mortgage loan application volume, which includes an adjustment for the 4th of July holiday — increased 16.0% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -7% compared with the previous week.
Transport Canada Orders Train Speed Reduction in All Areas with Extreme Fire Danger Risk
Transport Canada has ordered new safety measures for all rail operators nationwide aimed at reducing the risk of wildfires. The order, which went into effect on Sunday, July 11, 2021, will remain in place until October 31, 2021. The order requires railway companies to limit the speed of trains in all areas of the country that are facing extreme fire risk.
Idaho Wildfires Consuming Thousands of Acres of Grass and Forestlands
High temperatures, low humidity levels, and heat lightning have sparked wildfires all across Idaho and they are continuing to grow in size. The fires are burning in both grasslands and forested areas. Idaho News Channel 6 is reporting that there are currently 5-major fires burning in the state. Containment of most these fires is not expected until later in the year.
Canadian Lumber Production Declines -8.2% from March to April, Rises 45.4% Year-Over-Year
Statistics Canada (StatsCan) is reporting that Canadian lumber production by sawmills decreased -8.2% from March 2021 to 5170.3 thousand cubic meters in April 2021. However, production was 45.4% higher than in April 2020.
Interfor Corporation Completes Purchase of 4 Georgia-Pacific Sawmill Operations
Interfor Corporation announced on Friday (7-9-21) that it had completed the purchase transaction to acquire four sawmill operations from Georgia-Pacific, which was originally announced on May 27, 2021. The mills are located in Bay Springs, Mississippi, Fayette, Alabama, DeQuincy Louisiana, and Philomath Oregon.
Consumer Price Index Increased 0.9% in June, 5.4% Year-Over-Year
The U.S. Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9% in June on a seasonally adjusted basis after rising 0.6% in May. This is largest 1-month change since June 2008 when the index rose 1.0%. Over the past 12-months, the all-item index has increased 5.4% before seasonal adjustment.
Shares of Mortgages in Forbearance Decline for 19th Week in a Row for the Week Ending July 4, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased 11 basis points from 3.87% of servicers’ portfolio volume in the prior week to 3.76% as of July 4, 2021. According to MBA’s estimate, 1.9 million homeowners are in forbearance plans.
Wildfires Rage in Russia, Spain, the U.S. and Canada
While we read and hear about forest fires in the U.S. and Canada, the same unusually hot weather is taking its toll around the globe. In Russia, forest fires have broken out in the Chelyabinsk region close to the border with Kazakhstan, as well as in north-eastern Siberia. The Ministry of Emergency Situations said it has deployed aircraft and a helicopter to fight the fires, as well as 240 personnel to Chelyabinsk where two large villages have been evacuated.
Mosser Leimholz Selects Ledinek to Supply Complete Cross-Laminated Production Line
Mosser Leimholz GmbH has announced that they are making a pioneering investment and have placed an order with Ledinek for a complete cross-laminated timber production line for their Randegg site in Austria. Ledinek will deliver everything from the raw wood input to the handover of the formatted and sanded CLT elements to the CNC machining centers – including the master computer “X-Lam Manager.”