Another wild week
It was a wild week for both SPF dimension and OSB prices. The week started out slow with prices on the way down and then on Thursday, lumber futures went up limit and to make matters worse there was a large purchase by China. The market gained some steam in the other direction. Although print was off for the week, prices were higher after the buying started. The market correction last week might have been the buying opportunity everyone was waiting for. Some people with needs bought and others did not. Many were waiting for lower prices before they purchased.
There were huge volumes of wood traded last week to the US and overseas customers. Canfor, one of the largest producers in North America, reported they sold a record amount of SPF on Thursday. No one knows for sure how much higher prices will go, but if demand continues to be strong, like it has been, then we will continue to see price increases.
Once again, we will continue to see higher lows and higher highs as this Bull market continues.