What is Macro Pulse?

Macro Pulse highlights recent activity and events expected to affect the U.S. economy over the next 24 months. While the review is of the entire U.S. economy its particular focus is on developments affecting the Forest Products industry. Everyone with a stake in any level of the sector can benefit from
Macro Pulse's timely yet in-depth coverage.


Monday, October 28, 2013

August 2013 International Trade (Softwood Lumber)

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Softwood lumber exports rose by 3 MMBF (2.1 percent) in August while imports decreased by 147 MMBF (14.2 percent). Exports were 24 MMBF (19.4 percent) above year-earlier levels; imports were 3 MMBF (0.3 percent) higher. 
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Asia (especially China and Japan) retained the “top spot” for U.S. softwood lumber exports in August. China was the largest single-country destination. Meanwhile, Canada was far-and-away the largest source of softwood lumber imports into the United States. Imports from Romania, Austria, Estonia, Sweden and Malaysia have increased markedly on both year-over-year and year-to-date change bases. 
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Just over half of U.S. softwood lumber exports left the country through West Coast (primarily Seattle, WA) customs districts in August. At the same time, 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 August, followed by southern yellow pine. Hem-fir exports have jumped on a YTD basis, causing that species’ ranking to rise from 12th to 7th.
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.

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