After eight weeks of incremental price decreases, the North American lumber market continues to struggle against inflationary pressures and high interest rates that are taking a toll on the housing market. Forest2Market’s SYP lumber price composite for the week ending October 14 was $477/MBF, a 20% decrease from just eight weeks prior. In response, major North American lumber producers have recently announced curtailments in British Columbia. Canfor said it is making moves to reduce about 200 million board feet (MMBF) of production capacity at its solid wood facilities in BC. West Fraser Timber recently announced it is permanently curtailing approximately 170 MMBF of combined production at its Fraser Lake and Williams Lake sawmills. …While the first wave of curtailments is relegated to BC, a continued softening in the housing market could drive production cutbacks in facilities throughout the US as well.