US softwood lumber price until week 49/2021 © Holzkurier.com
Madison’s Lumber Reporter identified a 2-by-4 price of US-$750/1000 bft for week 49. Converted into actual size, this corresponds to around €430/m³ free Great Lakes region. European sawmills thus make €80/m³ more than in the same week of last year, also because the US dollar is much stronger this year (US-$1.13/€) than it was in 2020 (US-$1.21/€).
What will the new year bring? With an annual number of nearly 1.7 million units, US housing starts are at a very high level in November (+12% compared to October). “The search for manpower, price forecasts and dealing with delays in material supply remain challenges,” as one US housing construction association puts it.
A look at the US Lumber Futures for January shows a continuing upward trend. US-$1100/1000 bft are projected for January, that is 30% more than a year ago. With an unchanged currency exchange rate, European exporters would make €630/m³ (actual size, free Great Lakes region) again in early 2022, i. e. €170/m³ more than in January 2021.
