National Hardwood Magazine - May 2023

QUEBEC Continued
Quality Appalachian Hardwood Lumber
1,200,000 B.F. Kiln Capacity
Quentin Moss, KD-Lumber Sales/
GR-Lumber Sales/Purchasing
quentin@gfhardwoods.com
9880 Clay County Hwy. Moss, TN 38575-6332
PHONE: 1-800-844-3944 FAX: 1-931-258-3517
www.gfhardwoods.com
the year, but it is not robust. It is challenging for them to
obtain their raw materials as sawmill production remains
low.
Sawmills and wholesalers state there is more interest
in Red Oak from a wide range of buyers. The consumption
of this species on both domestic and international
markets has not grown much, but rather the low supply
is fueling competition for available lumber. This has resulted
in most grades and thicknesses moving well, including
thicker stocks, which in turn has raised prices for
Red Oak.
White Oak demand was consistent the past couple
of months. Demand is stronger, but production has not
kept up with the pace due to the weather struggles to
get White Oak logs and the high competition from stave
plants.
Green Poplar is moving well to wholesalers and millwork
and moulding plants, say sawmill operators. Contacts
note supplies of green Poplar have tightened, including
common grades, and prices are edging higher.
Kiln-dried Poplar is good on domestic
markets with some improvement being
felt in export markets.
Green Walnut volumes are improved,
with wholesalers having ample
supplies. There is interest in this
species domestically, in the Far East
and in China.
In March, the Bank of Canada
opted against further interest rate
hikes, despite a labor market, which
over recent months has exceeded
expectations, adding close to a
quarter of a million jobs between
October and January, stated the
Conference Board of Canada in its
Canadian Economics insight report.
Alongside flat-lining GDP growth in
the final quarter of 2022, the early
March results signal that momentum
may be waning and higher rates are
working. The announcement by the
Bank of Canada contrasted with the
path set out by the Federal Reserve
chair, who signalled the need for
more rate rises in the U.S. The prospect
of higher interest rates south of
the border caused the U.S. dollar to
strengthen, increasing the cost of imports
for Canadians. Central bankers
in Canada will be conscious that a
widening gap between Canadian and
U.S. interest rates risks devaluing the
Canadian dollar further and stoking
import-linked inflation.
Job vacancies in Canada are trending
down, continued the report, indicating
that Canada’s labor demand
is moderating. The removal of most
pandemic restrictions in the spring of
2022 led to a rehiring frenzy, pushing
76 MAY 2023 n NATIONAL HARDWOOD MAGAZINE www.RealAmericanHardwood.org