Timber Producers Expecting Stronger Demand for Lumber, California Farm Bureau Reports

By Christine Souza
Sierra Sun Times
May 22, 2023
Category: Finance & Economics
Region: United States, US West

Timber and forest products sector leaders and market analysts say warmer temperatures mean a return to a more typical seasonal demand as construction and home improvement projects resume after the winter slowdown. They say the timber market should fare reasonably well this year, despite rising interest rates affecting new home purchases. Lumber market analyst Rocky Goodnow, of Forest Economic Advisors, said… “We’re starting to see positive signs for demand in housing starts, and we continue to see strong numbers on the repair and remodeling side.” Goodnow said he expects the U.S. economy to enter a recession in late 2023. But he said the timber sector may be able to withstand a potential downturn. …After three years of drought and devastating wildfires, Steven Brink, California Forestry Association vice president of public resources, said snow and rain this winter is positive for improved forest health.

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