U.S. Lumber Prices to Continue Five-Year Decline

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Lumber prices in the U.S. have been falling for four years and prices are expected to decline in 2009 also, according to a new report from Research and Markets, Dublin, Ireland, titled Timber, Wood & Lumber Market Data & Forecast—USA to 2014. In September 2009, mill prices of framing lumber on an average declined by 13.2% compared with 2008 prices. This makes the year 2009, the fifth year for consecutive price declines, which is 48.0% below the 2003 price.

Softwood lumber consumption in the U.S., the R&M report points out, declined 34.3% in January 2009, compared with year-before, due to the apparent decline in housing markets. Other wood and lumber products consumption also declined due to apparent lack of demand. Given this situation, most of the manufacturers have reduced their production of wood. More information about this report is available online.