Weyerhaeuser Company announced today that it has entered into two distinct agreement to purchased timberland from and sell timberlands to funds managed by Hancock Natural Resources, a Manulife Investment Management company.
Wood Markets News
Alabama Forest Owners to Receive Relief from CARES Act
The Alabama Farmers Federation and Alabama Treasure Forest Association (AFTA) are the recipients of a $10 million in state coronavirus relief to help forest owners impacted by the pandemic.
Consumer Confidence in Canada Shows Signs of Slowing
According to the Bloomberg Nanos Canadian Confidence Index (CCI), Canada’s quick initial rebound in consumer confidence is showing signs of slowing, the most recent indicator to suggest there is a long road ahead for a full economic recovery from the pandemic.
Construction Spending Up Fractionally in July but Up 4% Year-Over-Year July 2019 to July 2020
The U.S. Census Bureau has announced that construction spending during July 2020 was estimated at a seasonally adjusted annual rate of $1,364.6 billion, 0.1% above the revised June estimate of $1,362.8 billion.
Mortgage Loans in Forbearance Remain Unchanged at 7.20% for Week Ending 8-23-2020
The Mortgage Bankers Association (MBA) is reporting the results of their latest Forbearance and Call Volume Survey for the week ending August 23rd. The survey is reporting that the total number of loans now in forbearance remained unchanged relative to the prior week at 7.20% as of August 23, 2020.
Electrical Fire Temporarily Reduces Production Capacity at Montrose Forest Products Facility
An electrical fire, late Friday night, in the de-barker area of the Montrose Forest Products facility in Montrose, Colorado, has the mill temporarily operating at a reduced capacity.
Milwaukee Soon to Become Home of Tallest Mass Timber Structure in the World
Downtown Milwaukee is about to become home to a $ 80 million, 25-story mass timber apartment tower.
First Shipment from Binderholz GmbH Arrives at Canaveral Cargo Terminal at Port Canaveral Florida
The US market, including the Central Florida region, has been witnessing rising demand for lumber in recent years, driving an upsurge in such imports.
The Perfect Storm has led to Lumber, Panel and Building Materials Cost Skyrocketing
John Gunkelman is the owner of Fargo’s Dakota Construction and is the immediate past president of the Home Builders Association of Fargo-Moorhead. Gunkleman sums up the current spike in lumber, panels and building materials in just ten words, “The numbers are just kind of going through the roof.”
UPDATE – Hurricane Laura’s Impact on America’s Class 1 Railroads
With winds in excess of 120 MPH, Hurricane Laura made landfall last Thursday morning (8/27) and left a path of destruction in her wake.