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Lumber prices spike as wildfires cause producers to cut output, citing 'significant' supply chain challenges

1 day ago   |   By Business Insider

Summary List Placement Lumber futures have jumped in recent days as concerns mount that wildfires in Canada and the Western US will snarl production and supply chain routes.
On Tuesday, Canfor Corporation, one of North America's largest lumber producers, said it was curtailing approximately 115 million board feet of production capacity at its Canadian sawmills. The company cited "significant supply chain challenges" amid a "transportation backlog in Western Canada as a result of the extreme wildfire conditions."
Lumber futures jumped 10.8% Thursday, and are trading nearly 15% higher than...
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Lumber prices spike as wildfires cause producers to cut output, citing 'significant' supply chain challenges

Lumber prices spike as wildfires cause producers to cut output, citing 'significant' supply chain challenges

1 day ago   |   By Business Insider

The Bootleg Fire burns through vegetation near Paisley, Oregon, U.S., July 20, 2021
David Ryder/Reuters
Lumber futures have jumped in recent days on concerns over the impact of wildfires on supply.
One of North America's largest lumber producers said it would cut output at sawmills due to the fires.
One lumber expert told Insider the production cut was the catalyst that confirmed to traders prices had hit a bottom.
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Lumber futures have jumped in recent days as concerns mount that wildfires in Canada and the Western...
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