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November 22, 2021
Q3 profits collapse for North American lumber giants
The combined net profits of the five largest publicly traded North American lumber producers (Canfor in British Columbia; Interfor in British Columbia; Resolute Forest Products in Montreal; West Fraser Timber in British Columbia; and Seattle-based Weyerhaeuser) jumped a staggering 2,218% between the second quarter of 2020 ($160 million) and the same quarter in 2021 ($3.7 billion). Those historic earnings, of course, came before the lumber bubble burst this summer. Between mid-May to mid-August, the cash market lumber price crashed from an all-time high of $1,515 per thousand board feet ...
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