The MarketWatch Blog is Transitioning to ResourceWise Forest Products
Forest2Market: July 14, 2023
Just as quickly as southern yellow pine (SYP) lumber prices spiked to a new record high of $576/MBF in early June, they retreated in week 24. Forest2Market’s composite southern yellow pine lumber price for the week ending June 15 was $553/MBF, which is still an extremely high price compared to recent history. Week 24’s drop represents a 4% decrease from the previous week’s all-time high of $576/MBF, and a 44% increase from the same week in 2017.
Orders surged in week 24 to levels not seen since early May. Shipments tailed off compared to the previous week, but should rebound in the coming weeks to account for the increase in orders. While week 24’s price drop was most likely driven by lower orders from a week ago, continued price volatility will be the norm as order/shipment parity seems elusive in the near term.
A closer look at some of the prices we have seen since the beginning of the year:
- Jan/Feb Average Price: $436/MBF
- Mar/Apr Average Price: $476/MBF
- 1Q2018 Average Price: $449/MBF
- May Average Price: $528/MBF
- YTD Average Price: $479/MBF
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