SYP
This weeks coverage on price changes for #1 SYP is a quick one: every dimension and length jumped up $30/mbf.
Price jumps in #2 were all also between $25 and $35/mbf.
We have now reached a 3rd straight week with double digit price increases in southern yellow pine. There are mixed assumptions as to how long prices will continue to rise as we head into spring. Many traders are speculating that these price increases are not sustainable and prices will be on their way down in a few weeks. Others are seeing the extremely high demand right now and are anticipating this will stay steady through spring.
Many factors are at play right now in price increases, but the biggest factor is fuel costs increasing since the war in Iran began. Mortgage rates are also on their 4th straight week of increases. But nothing is seeming to slow the demand, especially in SYP.
The final caution we would like to alert buyers to is availability at mills. We are seeing and hearing many longer quote back times at mills right now which is showing that availability is tight and growing even tighter. This rings especially true in low grade #3 and #4 SYP.
Prices in low grade increased $20/mbf this week; which is substantial given where they already are as most would consider low grade prices high and over priced. Nevertheless, prices continue to rise as demand stays strong.
If you have any immediate needs, we suggest being urgent in locking trucks down as lumber availability and truck availability is growing worse by the day.

SPF
SPF continues on its trajectory of steady increases and is less sporadic than its counterpart, SYP.
This week SPF in all dimensions increased around $10/mbf.
As prices in SYP continue to increase, look for SPF to follow suite and not back off until the SYP market softens. We are seeing SPF trucks are somewhat easier to find right now but with that being said, trucking is also an issue in SPF.

OSB
Demand still hasn’t increased for the OSB market which is forcing mills to keep their relatively short staffs where they are and prices to remain soft for months now. Prices are still low and some mills are trying to get more for their OSB but are quick to take counters.