The N. American lumber market outlook for 2023: Low prices and falling demand

As we moved into March 2023, there were still many headwinds facing BC’s sawmilling industry. Mill curtailments, both in lumber and pulp, have become a regular occurrence since 2022-Q3 from low lumber prices, and dwindling log and by-product volumes. As the high-cost log and (therefore) lumber producer in North America, almost all the curtailments have occurred in BC as lumber markets became over supplied. There are a number of key factors that have been negatively influencing the US lumber market since the middle of 2022, including high house prices coupled with a relatively low ...