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WEB GreenFirst Says Interest Rates, Macro Conditions Dampen Lumber Demand — Commodity Comment

On the price outlook

High interest rates, overall macroeconomic concerns, and tensions in the Middle East are weighing on lumber demand, according to GreenFirst Forest Products Inc.

First Quarter of 2023 Highlights

First quarter 2023 (Q1 2023) net loss from continuing operations was $1.0 million or $0.15 per diluted share, compared to net income of $12.1 million or $1.76 per diluted share in Q1 2022.

Lumber pricing

Average lumber prices for Q1 2024 were higher than Q4 2023, with an average selling price of $626/mbf. Lumber pricing remained strong in Q2 2022, with an average selling price of $1255/mbf, compared to $510/mbf in Q3 2022.

Price chart and historical data

Lumber prices climbed above $510 per thousand board feet in August 2022.