North America’s softwood lumber market is no longer drowning in excess supply. Sawmill closures, production curtailments and lower imports have brought output closer to weak underlying demand, helping benchmark prices remain above their 2024 and 2025 levels. Yet the stability visible in lumber conceals a severe deterioration further upstream, where record diesel prices are destroying logging margins and threatening the industry’s ability to supply sawmills.
Stable lumber prices conceal a deepening diesel crisis in US logging
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