Key Takeaways
- For North American #2 & Btr SPF in September, the market remained subdued. 2×4 prices weakened further, while wider widths held relatively firm as availability tightened. Buyers continued to cover immediate needs rather than build inventory.
- Q4 trading for export J-grade improved somewhat. While North American 2×4 prices softened, J-grade assessments moved modestly higher across the range. Higher log costs and weak sawmill profitability supported upward pressure, though it remains unclear how broadly these levels are being accepted in actual trading.
- According to the latest market report, some Japanese buyers accelerated orders around the Bank of Japan’s rate increase, while higher mortgage rates added pressure on housing. Trading appeared somewhat firmer entering Q4, but underlying demand remained cautious.
Western SPF J-Grade 2″x4″
- September 2026: $580-$595
- MoM: +$10 (+1.8%)
- YoY: ▲$50 (▲7.9%)
*C&F JPN, USD per Thousand Board Feet
Western SPF #2&BTR 2″x4″
- September 2026: $458
- MoM: ▲$17 (▲3.6%)
- YoY: +$28 (+6.5%)
*FOB Mill in Canada, USD per Thousand Board Feet
Western SPF #3/Utility 2″x4″
- September 2026: $372
- MoM: ▲$33 (▲8.2%)
- YoY: +$87 (+30.5%)
*FOB Mill in Canada, USD per Thousand Board Feet