What the scoop on recent lumber prices. Nothing posted in while. How much have they come down and how much farther will they fall? I`ve had a small project and privacy fence I have put off for almost 2 years now.
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Originally posted by TexaRican View PostI have 6 cedar posts set on a small pet yard project. Been stalling on buying the cross rails and pickets in hopes things come down. Cedar pickets are still $3.25. The last time I built a fence in Cypress right before Harvey I think I was paying around $2.25 but I could be off on that.
WOW!! I too have a fence project that I'm not going to be able to put off much longer... Last time I built a cedar fence, I paid $1.44/picket for #1 6-foot pickets!! Three n a quarter is gonna sting a bit!!
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Futures bounced this week.
Now sitting at....
Sept $647
Nov $634
Jan $645
Fires and Covid on the Canadian side is driving alot of emotion. The timber issue will be a long term problem for them. It is a huge reason so many of the Canadian companies have purchased SYP mills in the south.
Another rumor growing is mills announcing downtime for capital projects. Unsurprisingly, many of them are flush with cash/profits. They need to spend some money. West Fraser was buying back their own stock at a premium last week because the balance sheet was too cash heavy. Interfor purchased 4 sawmills from GP a couple months ago and the sale has already finalized.
You will hear next week how active SYP has been and the bullish tone will return...for a short time at least. I would not expect Lumber down is the next month or so....panels yes, Lumber no.
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Originally posted by Pony1971 View PostFutures bounced this week.
Now sitting at....
Sept $647
Nov $634
Jan $645
Fires and Covid on the Canadian side is driving alot of emotion. The timber issue will be a long term problem for them. It is a huge reason so many of the Canadian companies have purchased SYP mills in the south.
Another rumor growing is mills announcing downtime for capital projects. Unsurprisingly, many of them are flush with cash/profits. They need to spend some money. West Fraser was buying back their own stock at a premium last week because the balance sheet was too cash heavy. Interfor purchased 4 sawmills from GP a couple months ago and the sale has already finalized.
You will hear next week how active SYP has been and the bullish tone will return...for a short time at least. I would not expect Lumber down is the next month or so....panels yes, Lumber no.
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