07.21.22 SCOUTING REPORT

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Housing Pessimism is Over-Cooked
Builders are warning…Sudden reversal in fundamentals: accelerating declines in cancellations and sales in the past two weeks are creating bleak expectations for Q4. Current conditions are rapidly turning critical and lumber buyers seem oblivious.

Framing Lumber
Please welcome Michael Haas to our Scouting team. Mike will cover Euro lumber. His summary of lumber market conditions for this product sums up the entire lumber market very nicely one week from now.

European Lumber is plentiful at most major port cities with on ground inventory ready for shipment and more vessels on the way. Currently the overall economic conditions have everyone concerned. A global slowdown with continued inflation could affect us all for the time being. There’s not an overwhelming reason to buy excess inventory, so without that reason prices could run into some resistance.
[Michael Haas dba A Lumber Co alumberco@gmail.com]
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