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November 22, 2021

Q3 profits collapse for North American lumber giants

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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