Key Takeaways
- For North American #2 & Btr SPF in August, weakness was concentrated in 2×4, with prices falling 8% through the month, while wides remained relatively stable. The market became more selective amid modest demand and weaker futures, although limited availability continued to support wider widths.
- Q4 negotiations for export J-grade are currently underway. Export prices still offer little to no premium over North American levels, even after some softening in August, maintaining mills’ incentive to push prices higher to catch up with North America.
- At the same time, there is growing expectation of a softer North American market beyond Q3, which could encourage mills to move more export volume. With these conflicting factors, the final outcome will depend on whether mills place more emphasis on higher prices or greater volume.
Western SPF J-Grade 2″x4″
- August 2026: $570-$580
- MoM: +$0
- YoY: ▲$75 (▲11.6%)
*C&F JPN, USD per Thousand Board Feet
Western SPF #2&BTR 2″x4″
- August 2026: $475
- MoM: ▲$41 (▲8.0%)
- YoY: +$28 (+6.3%)
*FOB Mill in Canada, USD per Thousand Board Feet
Western SPF #3/Utility 2″x4″
- August 2026: $405
- MoM: ▲$50 (▲11.0%)
- YoY: +$95 (+30.7%)
*FOB Mill in Canada, USD per Thousand Board Feet