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September 22, 2022
North American lumber producers are cutting back production, a signal that higher interest rates are taking root
A growing number of Canada’s largest producers, including Canfor Corp. and West Fraser Timber Co. Ltd., recently announced plans to scale back production in British Columbia, citing softening demand among other factors. “We are temporarily curtailing production in British Columbia due to reduced market demand,” Don Kayne, chief executive of Vancouver-based Canfor, said in a press release on Sept. 19. The company said it expects annual production to drop by 200 million board feet, or an estimated six per cent of its annual capacity in B.C., where Canfor’s ...
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