April 2013 International Trade (Softwood Lumber)

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Softwood lumber exports rose by 8 MMBF (5.7 percent) in April while imports increased by 56 MMBF (5.5 percent). Exports were 12 MMBF (9.2 percent) above year-earlier levels; imports were 303 MMBF (39.1 percent) higher. 

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North America (i.e., Canada and Mexico) maintained its claim on the “top spot” for U.S. softwood lumber exports in April; Canada was also the largest single-country destination. Meanwhile, Canada is far-and-away the largest source of softwood lumber imports into the United States. Imports from Romania, Austria and Estonia have increased markedly on both year-over-year and year-to-date change bases. 

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Over half of U.S. softwood lumber exports left the country through West Coast (primarily Seattle, WA) customs districts in April. At the same time, however, Great Lakes customs districts (especially Duluth, MN) handled most of the softwood lumber imports coming into the United States. 

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Douglas-fir made up just under one-quarter of all softwood lumber exports in April, followed by southern yellow pine.

The foregoing comments represent the general economic views and analysis of Delphi Advisors, and are provided solely for the purpose of information, instruction and discourse. They do not constitute a solicitation or recommendation regarding any investment.