Year-over-year, lumber production in Canada saw a significant 9.9 percent increase, while shipments also rose by 5.6 percent.
From January to April, lumber production in Canada increased by 3.2 percent to 17,303 thousand m3.
The lumber production from the beginning of the year to April reached the annual rate 51,908 thousand m3, representing a 5.8 percent increase compared to last year, however this is 3.0 percent less than the 5-year average of 53,514 thousand m3.
In April, the capacity utilization rate in wood products manufacturing in Canada stood at 80.5 percent, showing a 4.1 percentage points increase year-over-year and a 3.4 percentage points rise month-over-month.
In May 2024, the average price for the softwood lumber exported from Canada to the U.S. decreased 5 percent compared to April, according to Lesprom Analytics. However, this was 3 percent more than a year ago. The exports of softwood lumber from Canada to the U.S. slipped 4 percent year-on-year in May.