EP 165: Spring-time Round Up

Summary Recorded during Montreal Wood Convention week with Kip Fotheringham, this episode breaks down a confusing but strong lumber market. Truck demand is hot, rail is lagging, and inventories are being drawn down while big buyers stay just-in-time. Euro supply is tightening, tariffs remain a wildcard, and mills still aren’t making money—keeping supply in check. The big question: Is this market about to roll over… or keep grinding higher? Timeline 0:00 – Market confusion + SYP volatility 2:00 – Truck vs rail market split 4:00 – Inventory drawdown strategy 6:00 – SPF strength + tight supply 8:00 – Euro supply dropping off 12:00 – Tariffs (AR6 → AR7) breakdown 15:00 – Mills still losing money 18:00 – Logistics driving everything 25:00 – Macro + economy check 27:00 – SYP gaining market share 38:00 – Futures shifting (contango → tighter) 46:00 – Just-in-time buyers vs distributors Guest Kip Fotheringham [email protected]   Advertiser Fastmarkets RISI Dustin Jalbert Senior Economist Wood Products [email protected] www.fastmarkets.com Show Contacts: Gregg Riley: [email protected] Charles DeLaTorre: [email protected] Matt Beymer: [email protected] Ashley Boeckholt: [email protected]