The Forest Service is investing $74 million to spark innovation, create new markets for wood products and renewable wood energy, and increase the capacity of wood processing facilities.
Wood Markets News
Western Canadian Provinces Already Dealing With Onset of Out-of-Control Wildfires
Firefighters in western Canada are in the process of battling the first major wildfires of 2024, Reuters reported.
Consumer Price Index Increases 0.3% in April; All-Items Index Up 3.4% Year-Over-Year
The Consumer Price Index for All Urban Consumers increased 0.3% in April on a seasonally adjusted basis, following a 0.4% increase in March.
US Builder Confidence Drops in May
The NAHB/Wells Fargo Housing Market Index showed that builder sentiment in the market for newly built single-family homes fell 6 points in May.
Mortgage Applications Rise in the Week Ending May 10th—Second Consecutive Increase
Mortgage loan application volume increased 0.5% on a seasonally adjusted basis from one week earlier, MBA reported.
Canadian Existing-Home Sales Decline Month-Over-Month in April, but Listings Increase
Home sales recorded over Canadian MLS® Systems declined 1.7% between March and April, coming in a little below the 10-year average, CREA reported.
Domain Timber Advisors Aquires Five New Assets Totaling 5,800 Acres for Its Forestland Portfolio
Domain Capital Group and its subsidiary Domain Timber Advisors announced the acquisitions of five new assets totaling 5,800 acres on behalf of its forestland portfolio.
Metsä Group Completes Sale of Russian Subsidiaries to VLP Group
Metsä Group has completed a transaction in which the ownership in the group’s four Russian subsidiaries has transferred to VLP Group.
US Producer Price Index for Final Demand Increases in April
The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.5% in April. This follows a 0.1% decline in March and an advance of 0.6% in February.
US Building Materials Costs in Residential Construction a Mixed Bag in April
The prices of goods used in residential construction, less energy, increased for the sixth consecutive month in April, the BLS and NAHB reported.