SYP wood pricing trickled up slightly as 2023 started. However, expected interest hikes by the Fed and murmurings of a recession may keep 2023 lumber prices muted through the first quarter. …After a 59% SYP price plunge in June from its 2022 high of $1,136/MBF, it somewhat stabilized throughout September. By the end of 2022, the price had continued its downward plunge to just below $400/MBF. Early data in January shows a somewhat reassuring recovery with prices quickly rebounding above the $400/MBF mark. …While the year-over-year drop reveals a major shift in prices, the change over the last 3 months has remained much more gradual. This shows, at least to some extent, more stability in the market. …Another interest hike expected by the Fed on February 1 will likely keep lumber prices pushing lower as investors await the exact numbers.