February drew to a close and across the continent weather conditions improved so the usual buying of lumber in advance of approaching spring building season got going. As such, lumber prices also increased. The ongoing situation of depleted inventories and cautious purchasers made the reality of limited supply even more stark. Customers had to hunt around at sawmills and wholesalers to find the exact tallies of wood they needed. Confusion continued to reign regarding potential / actual tariffs, and what that meant for Canadian wood crossing the border into the US. The added — and unnecessary — constraints caused by politics, rather than business conditions, did nothing to improve already difficult circumstances for the building materials industry. Players complained about spending so much time navigating the daily changing landscape with lumber trade, instead of just getting on with regular operating.

In the week ending February 28, 2025 the price of Western Spruce-Pine-Fir 2x4 #2&Btr KD (RL) was US$525 mfbm, which is up +$40, or +8%, from the previous week when it was $485, said weekly forest products industry price guide newsletter Madison’s Lumber Reporter. That week’s price is up +$80, or +18%, from one month ago when it was $445.

“Exasperated players hoped for some much-needed clarity as confusion surrounding tariffs kept the market quiet but on edge.” 

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