US lumber prices drop in December

US lumber prices dropped below $570 per thousand board feet in December, marking a near one-month low, driven by strong supply and subdued demand. Rising production in the U.S., which is becoming more self-sufficient, has boosted supply, particularly in the U.S. South. While sawmill closures in Canada have had some impact, they have not significantly curtailed overall supply. Additionally, U.S. building permits continued their decline in October, dropping 0.6% following a 3.1% decrease the previous month, while housing starts fell 3.1%, missing expectations. Broader trends suggest ongoing challenges ...