Irving Forest Products acquires Masardis sawmill in Maine, and Conifex Timber moves to a two-shift operation. In related news: Allegheny Wood Products is still selling its assets; Twin Rivers Paper appoints Tyler Rajeski CEO; and US mortgage rates tick up, as Trump’s agenda is feared to be bad for growth. In Wood Product news: mass timber shines in Ottawa, Los Angeles, and Paris, forest-based biomass is promoted in Ireland; and bamboo and poppy-straw make inroads.
In Forestry/Climate news news: President Biden plans to designate two new national monuments in California; a new study says Canada is primed for more wildfires; and ENGOs say politicians are spreading climate misinformation.
Finally, why is the self-proclaimed “First US Carbon-Positive Hotel” built out of concrete.
Kelly McCloskey, Tree Frog Editor
VANCOUVER — Conifex Timber announced that it has amended and restated its existing credit agreement with PenderFund Capital Management Ltd. The restated agreement increases the aggregate principal amount of the secured term loan provided thereunder to up to $41 million, of which $5 million is available immediately, and the remaining $11 million is subject to completion of financial diligence. …“The additional borrowings will be used to fund a build-up in sawlog inventories to support our transition to a two-shift operation at our sawmill complex, effective January 6, 2025,” commented Conifex’s Chairman and CEO, Ken Shields. The decision to move to a two-shift operation was based on a steadily improving backdrop for lumber prices, as evidenced by the 18% improvement in cash prices for Spruce Pine Fir benchmark lumber prices in the fourth quarter of 2024 relative to those in the third quarter of 2024. 
Rollercoaster market moves in the final days of 2024 offered a blunt reminder that investors are heading into a year of living dangerously. Stocks and bonds lurched lower after the Federal Reserve’s final policy meeting of the year, spooked by the notion that the central bank may be unable to keep cutting rates (as it had previously expected to) because of still-simmering inflation. The key is what Fed chair Jay Powell was careful not to say but what every fund manager knows: Donald Trump’s economic agenda could be bad for growth, fuel inflation, or even both. So for the first time in many years, investors have what they call “two-way risk” in the Fed policy. The central bank might be able to keep on cutting — the hunch is that this would be Trump’s preference. But it’s not outlandish to suggest it might start raising rates again instead. 
US mortgage rates climbed closer to 7%, threatening to squeeze buyers trying to crack into the housing market. The average on a 30-year mortgage rose to 6.91% as of Jan. 2, up from 6.85% a week earlier, according to Freddie Mac data released Thursday. A measure from the Mortgage Bankers Association advanced 8 basis points to 6.97% in the period ended Dec. 27, a nearly six-month high. High borrowing costs are weighing on affordability. …“It’s not exactly a good way to start the new year,” said Odeta Kushi, deputy chief economist at First American Financial Corp. “Industry experts are coming to the consensus that 2025 is another year of higher for longer for the housing market. It’s not great news.” Mortgage rates tend to track Treasury yields, which continued to climb in late December after Federal Reserve policymakers projected a slower pace of interest-rate cuts in 2025 amid sticky inflation.
This research concerned the possible use of waste poppy straw as an alternative source for producing lignocellulosic materials. The suitability of the materials for paper products and particleboard was determined based on the selected properties measured. While poppy-based particleboards need further optimization to match wood fibres, they show comparable properties to agricultural residues. Future research should focus on improving resin types and pressing conditions to enhance performance. From the point of view of paper products, poppy pulp produced by the pulping process has better properties than nitrate-alkaline pulp. …Therefore, both applications of waste poppy appear to be alternative raw materials in the future, especially in the case of wood scarcity, which can ensure the continuity of production and composite materials in an economically advantageous and more environmentally friendly way. Using poppy straw has environmental benefits such as reducing deforestation and the carbon footprint…
Canadian forests are increasingly primed for severe, uncontrollable wildfires, a study published Thursday said, underlining what the authors described as a pressing need to proactively mitigate the “increased threat posed by climate change.” The study by Canadian researchers, published in the journal Science, looked at Canadian fire severity from 1981 to 2020. “The widespread increases, along with limited decreases, in high-burn severity days during 1981 to 2020 indicate the increasingly severe fire situation and more challenging fire season under the changing climate in Canada,” the study read. Co-author Xianli Wang, a research scientist with the Canadian Forest Service, says there were on average an additional two days conducive to high-severity fires in 2000 to 2020, compared to the previous two decades. In some areas, it was closer to five days. …The greatest increase in burn severity days was recorded in an area covering northern Quebec and an area covering Northwest Territories, northwest Alberta and northeast British Columbia.
The Irish government’s COFORD Council for Forest Research and Development has published a paper that recommends future policies to support an expanded role of forest-based biomass. The paper, entitled “