Forest products index down
Nov. 28, 2014, Toronto - The Forest Products Index inched down seasonally in October (-0.7% m/m, -0.5% yr/yr), according to the Scotiabank Commodity Price Index. Western Spruce-Pine-Fir 2x4 lumber prices eased from US$355 per mfbm in September to US$347 in October and are currently US$330.
Demand normally fades heading into the winter season, but should climb to an average of US$380 next year. U.S. housing starts will strengthen from 1.0 million units in 2014 to at least 1.2 million in 2015 and 1.4 million in 2016.