Tree Frog News sat down with global wood markets analyst Russ Taylor to discuss his upcoming GLOBAL WOOD SUMMIT conference in Vancouver, October 28-30.
Why resurrect this global conference now? Simply put, there was a void in the conference market for bringing buyers, sellers, producers, traders, and service providers together to discuss international developments in markets and in forest products dynamics. There is also a general market malaise, post-covid—particularly in lumber, panel, and log markets, and too many private forecasts of ‘better-days-ahead’ that end up so different from reality. This means that the need for up-to-date, detailed insights and discussions on global developments in pulp, paper, logs, lumber and panels has never been so important.
What’s new with this conference and what will differentiate it from your previous ones? For the most part, the Summit will be like my previous Vancouver conferences—under the Wood Markets banner—with one major difference. I was able to secure a conference partnership with Kevin Mason and his expert industry/market research team at ERA Forest Products Research. This will allow the joint conference team to broaden the speaker and topic offerings; professionally, experience-wise and by product type and geography. …We can now go into more depth in terms of product lines, geographic regions and speakers, making the summit a marquee event for the global trade. …Our conferences have always achieved top marks as a networking event. …The other assured highlight will be the many strategic information exchanges from our expert speakers. For more information, you can check out our Global Wood Summit website.
Observers expect Kamala Harris to follow U.S. President Joe Biden’s roadmap for America’s relationship with Canada as she moves to secure the Democratic party’s presidential nomination. “On the key things that matter for Canada-U.S. relations, her outlook is very similar to the president,” said Christopher Sands, director of the Canada Institute at the Woodrow Wilson Center in Washington. …Even so, Canadians have been reaching out to Democrats and Republicans alike. Top of mind is the looming review of the U.S.-Mexico-Canada Agreement in 2026. Harris was one of 10 U.S. senators to vote against the trade agreement, saying it didn’t do enough to protect American workers or the environment. …Softwood lumber and Canada’s digital services tax are key areas of contention for both Republicans and Democrats. Biden largely kept Trump’s tariffs in place, despite promises to reverse them. There has also been tension over the Biden administration’s Buy American procurement rules.
VANCOUVER, BC — Canfor Corporation reported its Q2, 2024 results. The Company reported an operating loss of $250.8 million compared to an operating loss of $85.8 million in the first quarter of 2024. After accounting for adjusting items totaling $83.0 million, the Company’s operating loss was $167.8 million and when taking into consideration $38.5 million in restructuring costs recognized this period, correlated with the permanent and indefinite curtailments in the lumber and pulp businesses, the Company’s operating loss for the second quarter was $129.3 million. For the lumber segment, the operating loss was $230.5 million for the second quarter of 2024, compared to the previous quarter’s operating loss of $57.1 million. …For the 
VANCOUVER, BC — West Fraser Timber reported its second quarter results of 2024. Q2 sales were 
US mortgage rates eased last week to their lowest level since early February, while a further decline in home-purchase applications suggested even cheaper borrowing costs may be needed to stir demand. The contract rate on a 30-year fixed mortgage slipped 5 basis points to 6.82% in the week ended July 19, according to Mortgage Bankers Association data released Wednesday. An index of mortgage applications to buy a home decreased 4% to the lowest level since the end of May. While mortgage rates remain below 7%, they’re still twice as high as they were at the end of 2021. Combined with elevated home prices, many potential homebuyers have been shuffled to the sidelines, evidenced by waning sales of previously owned houses. A National Association of Realtors measure of homebuyer affordability declined for a fourth straight month in May and stood at one of the lowest levels in the group’s data back to 1989.
May 2024 exports of Southern Pine lumber (treated and untreated) hit a three-year high with 59.7 Mbf, just shy of the 60.3 Mbf of exports in October 2021, according to May data from the USDA’s Foreign Agriculture Services’ Global Agricultural Trade System. It’s only the third time monthly exports have surpassed 50 Mbf since October 2021. Southern Pine lumber exports, which were up 28% over April and up 31% over May 2023, are running 15% ahead of 2023 YTD. …Our international consultants found most of the May 2024 Southern Pine export gains were in the Caribbean, although Mexico, Pakistan, and a few other countries were strong as well. …Mexico remains the largest export market, up 34% YTD with 64.4 Mbf of imports. The Dominican Republic, the No. 2 importer, is running 25% ahead of the same period last year with 47.3 Mbf. India’s total of SYP imports cooled a little in May but are still running 3% ahead of 2023 YTD at 16.1 Mbf. 
Don’t miss these and other headlines in the July newsletter
GREENVILLE, South Carolina– Seven new grants will support local stakeholders and project developers to connect public and private capital to unfunded environmental challenges in National Forests and surrounding landscapes across the United States. These seven awards represent the fourth round of funding from the 
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