more closures, this time in the US....
West Fraser Timber Co. Ltd. announced today that it will close its sawmill in Maxville, Florida and indefinitely curtail operations at its sawmill in Huttig, Arkansas by the end of this month. Today's decision is the result of high fiber costs and soft lumber markets.this will reduce West Fraser's U.S. lumber capacity by approximately 270 million board feet.
current CME futures $565 USD per thousand board ft-most cdn producers not profitable at this level-hopefully demand will pick up going into the spring but ultimately gonna need lower interest rates to light a fire (perhaps not the best pun to use) ..dwdc
PS.. this talked about 34% sale was about one of their partnerships for logging lands and NOT the whole company itself-go to their investor page and its explained in black and white...............