Mike Smidt owns a mobile sawmill. With the help of his sons and father they have been working every weekend since Hurricane Sally hit Northwest Florida and toppled a lot of tree.
Wood Markets News
Canadian Home Prices Rise 1.1% in September
According to the Teranet-National Bank Composite House Price Index (CHPI), which tracks data collected from public land registries to measure changes for repeat sales of single-family homes, Canadian home prices rose 1.1% in September 2020 when compared to August 2020. Making this the second strongest September on record.
Mortgage Applications Drop -0.6% in Week Ending 16th October 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 16th, 2020, The Market Composite Index, a measure of mortgage loan application volume, decreased -0.6% on a seasonally adjusted basis from one week earlier.
Truck, Rail, Air and Ship Freight Capacity Shortage Causing Freight Rates to Climb Higher
US retailers are stocking up for what they hope will be an outstanding holiday season. This despite the ongoing COVID-19 pandemic and unemployment numbers continue to edge higher. And, as of yet, no additional economic stimulus or increased unemployment benefits coming from Congress.
Newly Installed Stela Bed Dryer Helps Pinnacle’s Williams Lake Facility to Run Wider Array of Fiber
Wood pellet plants have long relied on sawmill residue as their source of fiber. However, recent mill closures due to weak lumber prices and the impact of the COVID-19 pandemic, along with pests and wildfires have all negatively impacted pellet plants ability to source from their typical fiber sources.
Timber Products Company Acquires 20-Acre Facility in Thomson, Georgia for new Southeastern Hub
Timber Products Company has announced that they have recently acquired a 20-acre facility located in Thomson, Georgia, which will serve as the hub for TP Logistics for full 3PL service in the Southeastern United States.
The Province of Quebec, a World Leader in Mass Timber Technology and Construction
A resurgence in timber construction and engineered wood is now underway. Architects are inspired and enjoy the challenges of creating new and unique structures made of mass timbers and engineered wood.
Analysts Expect Lumber and Panel Pricing and Demand to Remain Strong for the next Several Years
Despite recent declines from record breaking high levels, forest product market experts anticipate prices for lumber and panels will remain strong throughout North America for the next several years. The demand for building products will be led by both new construction and home renovation as tight inventory and aging existing homes, along with low interest rates and untapped home equity.
European Lumber Exports Continue to Grow
European lumber exporters continue to expand their overseas sales markets. Growing them over the past ten years from 30% to 45% and with a fifth of total export production in 2020 going to Asia. Traditionally most of the shipments went to neighboring countries on the continent and about 20% being shipped to the Middle East\Northern Africa, the US and Japan.
The Share of Mortgage Loans in Forbearance Drops to 5.92% in Weekending October 11th, 2020
According to the Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey, the total number of loans now in forbearance has decreased by 40 basis points from 6.32% of servicers’ portfolio volume in the prior week, to 5.92% in the week ending October 11th, 2020.