Lumber price forecast 2024 suggests volatility ahead

Lumber price forecast 2024 suggests volatility ahead, with spot futures hovering near $525 per thousand board feet in May. Analysts expect tightening supply due to reduced North American mill output, which could push Q3 prices toward $580 if housing starts rebound. Traders are watching Fed rate cuts as a key driver. Weyerhaeuser Company ’s WY shares dropped slightly by 0.2% in the after-hours trading session on Jul 25 after it reported weak results for second-quarter 2024. The company’s earnings and net sales missed the Zacks Consensus Estimate. On a year-over-year basis, both metrics declined due to the challenging lumber market affected by lower sales. Yet, during the second quarter, Weyerhaeuser demonstrated resilience despite ongoing challenges in the lumber market. Key driving factors included significant improvement in adjusted EBITDA across all business segments compared with the first quarter of 2024. A major highlight was the announcement of high-quality timberland acquisitions, which align with its multi-year growth targets and reinforce its strategic expansion. Looking ahead, WY remains optimistic about the long-term demand fundamentals that support its businesses. The company’s robust portfolio of assets, relentless focus on operational excellence and innovation, and disciplined capital allocation uniquely position WY to navigate various market conditions effectively. Key Topics Covered: 1. Introduction 2. Research & Methodology 2.1 Data Source 2.1.1 Primary Sources 2.1.2 Secondary Sources 2.2 Research Approach 2.2.1 Top-Down Approach 2.2.2 Bottom-Up Approach 2.3 Forecast Projection Methodology 3. Executive Summary 4. Market Dynamics 4.1 Growth Drivers 4.2 Challenges 5. North America Plywood Market 5.1 Historical Market Trends 5.2 Market Forecast 6. North America Plywood Market Share Analysis 6.1 By Type 6.2 By Grade 6.3 By Application 6.4 By Countries 7. Type 7.1 Hardwood 7.2 Softwood 8. Grade 8.1 MR Grade (Moisture Resistant) 8.2 BWR Grade (Boiling Water Resistant) 8.3 Fire Resistant Grade 8.4 Structural Grade 8.5 Others 9. Application 9.1 Construction 9.2 Furniture 9.3 Packaging 9.4 Flooring 9.5 Transport 9.6 Decoration 9.7 Others 10. Countries 10.1 Canada 10.2 United States 10.3 Mexico 10.4 Rest of North America 11. Porter's Five Forces Analysis 11.1 Bargaining Power of Buyers 11.2 Bargaining Power of Suppliers 11.3 Degree of Rivalry 11.4 Threat of New Entrants 11.5 Threat of Substitutes 12. SWOT Analysis 12.1 Strength 12.2 Weakness 12.3 Opportunity 12.4 Threat 13. Key Players Analysis Lumber price forecast 2024 discussions revolve around inventory cycles. Retail chains reported lower stockpiles, suggesting potential restocking waves. This pattern historically boosts prices 3–5% in following months, taking spot values closer to $