North American timber producers are expected to see a dip in current-quarter profit after lumber demand for do-it-yourself home projects decreased following the easing of most restrictions that kept people in their houses.
Lofty lumber prices, the sustained needs of home builders and industrious homeowners during the pandemic pushed their second-quarter profit to record levels. But the DIY market, which accounts for 20% of lumber sales, is leveling.
Canada‘s West Fraser Timber Co Ltd, Canfor Corp and Interfor Corp are projected to report combined earnings of about $803 million in the third quarter, according to Refinitiv estimates, about a third of what they posted in the second quarter.
However, lumber supply is expected to tick up as saw mill owners take advantage of recent bumper profits to build more mills and add workers, which will help ease a protracted labor shortage.
Graphic: Lumber price rally winners to come back to earth,
“Revival in supply and weak demand from renovations and the repair sector will put a lid on prices,” said Samuel Burman, commodities economist at Capital Economics.
Burman expects lumber prices to hover around $500 to $600 per thousand board feet for the rest of this year, with supply set to rise around 6% in 2021 compared to pre-pandemic levels.
Lumber futures touched a record high of $1,711 per thousand board feet in May. However, futures contract for lumber with delivery in November traded at just $483 per thousand board feet.
Graphic: Timber stocks lose steam as prices pull back, https://fingfx.thomsonreuters.com/gfx/mkt/gkplgggdqvb/Pasted%20image%201629138169306.png
In July, U.S.-based Weyerhaeuser Co said it expects third-quarter earnings to be “significantly” lower than the second. Canfor, which breezed past market expectations in the second quarter, hinted at future demand challenges in late July.
“The second quarter was probably the greatest quarter in the history for the lumber producers … they never made money like they did in the second quarter and they probably won’t make money like that again in the near future,” said Mark Wilde, analyst with BMO Capital Markets.
Graphic: Top lumber producers’ revenues set to fall in Q3, https://graphics.reuters.com/LUMBER-OUTLOOK/klpykkgzepg/chart.png
The windfall from high lumber prices, however, encouraged Canfor and smaller rivals like privately held Tolko and Roseburg Forest Products to open new saw mills.
“The new supply will weigh on pricing,” said George Staphos at Bank of America (BofA) research, adding that some new equipment and capacity installations could go into 2022 and beyond.
(Reporting by Rithika Krishna in Bengaluru; Editing by Sweta Singh, Bernard Orr)
Real estate transfers Aug. 28-Sept. 3 – Massillon Independent
Freed Zachary Benjamin & Dianna Marie from Datkuliak Daniel L & Donald E & James W, 4696 Fohl St SW, $125,000.
Freed Zachary Benjamin & Dianna Marie from Datkuliak Daniel L & Donald E & James W, 4720 Fohl St SW, $125,000.
Fritz Travis W from Ames Jack W & Bonita L, 7853 Hudson Dr SW, $285,000.
PSPR Properties LLC from Lee’s hunt’in Shackinc, 702 Main St N, $50,000.
Skibicki Rolland & Pamela from Vancamp Judith C, 216 4th St NE, $125,000.
Alspach John Jr & Carol from Schalmo Properties Inc, 930 Cabot Dr, $41,900.
Hercheck Steven J from Klein Peter N, 555 Market St W, $92,500.
Holderbaum Beth S from Fulton Landings Development LLC, 318 Alexis LN, $356,553.
Mamj Properties LLC from Schalmo Properties Inc, parcel 10009478 Portage St NW, $150,000.
Yeary Lisa M from Huntley Kristen E, 2044 Ellsworth Dr, $246,000.
Aces Real Estate Inc from Goodyear Bank, 4140 Portage St NW, $500,000.
Aowad Ryan & Ashley from Staley James & Sherrie K, 8375 Audubon St NW, $320,000.
Bajormas Joseph J & Mary Beth from Ridgeview Development Co Inc, parcel 1630311 Chermont St NW, $79,000.
Biasella Matthew E & Ashley L from Tank Bradley D & Alexandra v, 7247 Bentham Cir NW, $345,500.
Blackstock Stefan C & Denise M from Mckimm Lisa, 3316 Broadhaven Ave NW, $190,000.
Bradshaw Timothy J & Karen C from Bagwell Eric M & Jill E, 8341 Blue Heron Cir NW, $530,000.
Curtis Susan K from Aman James P & Denise J, 5949 Freitag St NW, $200,000.
Curtis Susan K from Aman James P & Denise J, parcel 1602779 Libbie St NW, $200,000.
Dale Sally M Trustee & from Braucher Daniel J Trustee, 7626 Wales Ave NW, $925,200.
Dale Sally M Trustee from Dale Sally M Trustee &, 7626 Wales Ave NW, $925,200.
Emley William W Sr & Christine A from Samsa Charles A, 2222 Duncannon Ave NW, $270,000.
Gillespie Nicholas R from Chine Jeffrey L & Gillespie Pamela A, 7993 Oakdale St NW, $112,500.
He Ying from Masidonski Lauren M, 3614 Barrington PL NW, $158,000.
Hines Matthew Spencer from Divvy Homes Warehouse I LLC, 1266 Concord St NW, $100,000.
Holmes Sonya A & James P from Waltman Carol E, 8273 Edmund Court Cir NW, $380,000.
Impagliozza Donald J & Jane A from France Jerry G & Mareno Richard M II, 2245 Devonshire Dr NW, $299,900.
Khan Saadat A & Karamat Anum from Rubin Barbara L & Dickson Pamela S Ttees, 4106 Lochness Cir NW, $525,000.
Kibler Christopher & Carly from Vanderlind Gary S & Lisa A Trustees of T, 8663 Regency Dr NW, $675,000.
King Lindsay A from Huston John E III, 8893 Traphagen St NW, $128,000.
Lawrence Mark from Scassa Antonio R, 3508 Cardiff Ave NW, $220,000.
Lemin Ian K & Sara L Ttees from Jane Zito Designs LLC, 7032 Emerson Cir NW, $830,022.
Lindesmith Zachary Jeff & Jeff from Weaver Christ, 6674 Hills and Dales Rd NW, $110,000.
Mellion Mark L & Amber L from Jain Kantilal N & Bhagwanti K, 3357 Hadrian Cir NW, $360,000.
Miller Michael D from Minor Christopher S, 5947 Westlake BLVD NW, $165,000.
Miller Michael D from Minor Christopher S, parcel 1604187 Sterling St NW, $165,000.
Monaco Nathan A & Aimee B from Jane Zito Designs LLC, 7235 Greenview Ave NW, $872,873.
Oakes Javin from Oakes Edward T., 7816 Daytona St NW, $185,000.
Pachan Ben & Kate from Linton David K & Deborah L Trustees of T, 3328 Waterford Ave NW, $333,220.
Parks Kyle & Mary from Petit Mark A & Lori J, 7680 Killeen St NW, $712,000.
Romans David E & Dorinda M from Boch Robert C & Helen M, 8093 Winterwood Ave NW, $149,000.
Roush Chad & Heather from Moore Johnathon & Jessica, 6685 Hillfield St NW, $195,900.
Russell Daniel Thomas & Heather Armsey from Tonsky Thomas A & Beth A, 6735 Thicket St NW, $357,250.
Sherer Steven D II & Linda Ann from Rodriguez Castillo Vanessa A & Rodas Man, 7403 Hawksfield Ave NW, $375,000.
Smith David W & M Lynn Co-Trustees from Salter Bryce J, 6968 Knight St NW, $212,000.
Tanda Construction LLC from Kelly Joseph, 5093 West BLVD NW, $140,000.
Vail Capital Group LLC from Carlone Brian M & Lynn A, 6990 Hills and Dales Rd NW, $230,000.
Vretas James & Kathryn from Cross Timberlands LLC, parcel 10012362 Nottinghill Cir NW, $370,000.
Boak Marlesa Marie & Keith R from Madzia Cindy Sue & Bing Karen Elaine, 15021 Penford St NW, $150,000.
Luther Michael & Aurora E from Lincoln Joseph W, 136 Thomas BLVD NW, $46,000.
Mitchell Courtney & Seth from Ammond Timothy J & Jennifer A, 4795 Alabama Ave NW, $425,000.
Tharp Eric Shane & Jenni Lynn from Tissot Chelsie, 15391 Orrville Rd NW, $210,000.
Aaron Corban J from Moyer Geraldine B, 869 Amherst Rd NE, $60,000.
Arnold N Brewer Associates LLC from Praxis Properties LLC, 2212 Courtland Ave NW, $66,000.
Bourquin Nichole from Harwig Marc A, 142 Penn Ave SE, $32,500.
Brinkley Property Group LLC from Hercules Holding Collc, 2770 Erie St S, $935,000.
Dicicoo Joseph & Kelsey from Braneky Stephen L &Frieda J, 2536 Valleywood Ave NE, $273,750.
Glick Josiah W from Spencer Kathleen D, 1334 3rd St SE, $30,003.
JJ Canton Rentals LLC from Schnabel Investments LLC, 517 8th St SW, $440,000.
Jones Lemuel T & Connie S from Jre Homes LLC, 1801 Forest Ave SE, $79,900.
Layth & Ayah Properties LLC from Meinhart Patricia A, 2005 Clearview Dr NE, $140,000.
Loudiana Michael J from Gorcoff Dennis M & Susan J, 1488 Pebble Chase Cir NE, $189,000.
Mccoy Todd A from Diacontonas Zachary M, 146 25th St NW, $129,000.
Miller David P & Dream G from Mccleary Ladonna & Boyd Beth, 325 12th St SW, $109,900.
Mullet Merle & Lena from Guilliams Ashley L, 805 32nd St NW, $118,000.
Reality Renovations LLC from Green Mountain Holdings Cayman Ltd, 1161 Bradford Rd NE, $210,000.
Rey Timothy C from Mishler Kelly J, 475 27th St NW, $141,500.
Ruth Jeremy G from Lec Investments LLC, 1117 Tremont Ave SE, $45,000.
Salopek Anthony from Highben Edward A Jr & Carolynnanne M, 667 Young Ave SE, $23,500.
Salopek Anthony from Highben Edward A Jr & Carolynnanne M, parcel 608343 Young St SE, $23,500.
Schilling Birchard L from Hoffner Christopher T, 1420 Forest Ave SE, $84,900.
Baker Anthony S from Riley Homes LLC & Exteriors Plus LLC, 3163 List St NW, $200,000.
Baltzly Andreas from Douglass Jason P & Macy D, 1021 Market St NE, $159,900.
Burke Michael W & Marcoguiseppe from NVR Inc D/B/A Ryan Homes, 6985 Gauntlet St SW, $240,175.
Davis Rebecca J & Robert M from Daugherty Karen S, 5514 Perry Hills Dr SW, $200,000.
Dennis James A from Dennis James A & Robert L, 3232 Rayanna St NW, $40,000.
Duffy Taylor Brooke & from Strock Kelly, 4908 14th St SW, $130,000.
Foradas Alyssa & Mcmullin Corey from Rescomm Property Investments LLC, 3985 Greenford Ave SW, $180,000.
Garrett Raquel L from Warth Michael J, 321 Elmford Ave SW, $103,675.
Gess Emanuel from Belliveau Matthew & Kristina, 1500 Jackson Ave NW, $210,000.
J & K Rental Management LLC from Bowlus Realty Ltd, 1733 Perry Dr SW, $265,000.
JJ Canton Rentals LLC from Schnabel Robert R Jr Trustee / Robert R, 5401 Richville Dr SW, $184,000.
Kaminski Cassidy M from Murray Tina M, 515 Highland Ave SW, $144,900.
Kubiak Michael C IV from Sampsel Lindsey D, 4909 Lynncrest St SW, $130,000.
Laney Joshua C & Mast Sydney R from Laney Charles J Ttee, 2524 Nottingham St NW, $201,000.
Loudon Nathan A & Erica from NVR Inc D/B/A Ryan Homes, 6128 Lavenham Rd SW, $270,125.
Lynch 3125 LLC from Braun Stuart R, 3125 Lynch St SW, $80,000.
Nations Lending Corporation from Long Joseph S, 4742 17th St NW, $80,000.
Nations Lending Corporation from Long Joseph S, parcel 4301227 Woodlawn Ave NW, $80,000.
NVR Inc A Virginia Corporation DBA from Dehoff Agency Inc, 6109 Lavenham Rd SW, $60,000.
NVR Inc D/B/A Ryan Homes from R L Deville Holdings Ltd, 6913 Gauntlet St SW, $47,895.
Piatko Jeffery A from Rohleder Ryan A & Alicia, 5387 Aquarius St SW, $205,000.
PNC Bank National Association from RCK Properties LLC, 5240 Emil Ave SW Unit 102, $26,000.
Slutz Jacob from Schnabel Luke C & Kaley, 5525 Richville Dr SW, $225,000.
Smith Cole Jason from Hirschman Julie S, 1215 Delverne Ave SW, $139,900.
Swisher Jerry L & Susan L from File Lila, 319 Zern Ave SW, $72,000.
Walker Lisa Marie from Flagg Michael R & Annmarie L, 3751 Mollane St NW, $185,000.
Garvin Jewell L from Garvin Wesley J & Jewell L, 5877 Smith Rd SW, $195,000.
Hershberger Aden S & Clara N from Grady Jack C & Shell Deborah H, 14909 Wynncrest St SW, $310,000.
Mast Benjamin M from Miller Milo J, parcel 6700326 Navarre Rd SW, $677,000.
Miller Kobe A & Brittany A from Hershberger Nancy L, 805 West CT, $178,500.
Zeigler Tamara L from Brewster Estates LLC, 460 First St SW Lot #64, $6,000.
Neitz Nicholas from Romar Chris P & George P, 923 Highlander St NW, $72,500.
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