Lumber futures rebound after tariff start delayed

Lumber futures traded near $580 per thousand board feet, rebounding from a three-month low of $568 as the US temporarily delayed new duties on Canadian goods. The US president signed a proclamation moving the start of the tariffs to Saturday, while Canada and the US negotiate an interim trade agreement. Earlier, the US imposed tariffs on several Canadian lumber-related products, while Canadian softwood lumber was excluded. However, pre-existing duties of around 35% continued to weigh on demand.

7% in the first half of the year, while its share of the US market declined slightly. 4% in July, driven by a sharp decline in lumber-intensive single-family construction to its lowest level since late 2022.