# EP 166: Is Freight the Real Lumber Market Right Now?

Page: https://stenobird.com/podcast/the-lumber-word-6578824/ep-166-is-freight-the-real-lumber-market-right-now
Text version: https://stenobird.com/podcast/the-lumber-word-6578824/ep-166-is-freight-the-real-lumber-market-right-now.md
Podcast: [The Lumber Word](https://stenobird.com/podcast/the-lumber-word-6578824)
Published: 2026-04-30T10:19:00+00:00
Episode link: https://thelumberword.podbean.com/e/ep-166-is-freight-the-real-lumber-market-right-now/
Audio file: https://mcdn.podbean.com/mf/web/4vsnkh8zvet7wyan/APRIL_29b22rb.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-lumber-word-6578824/episodes/ep-166-is-freight-the-real-lumber-market-right-now
Duration seconds: 3076

## Resource

This week’s episode breaks down a confusing lumber market where price prints don’t reflect reality. Southern Pine appears to be selling off, but much of the move is driven by rising and volatile freight costs rather than true demand weakness. Inventory remains tight in many regions, while buyers hesitate due to bearish sentiment and futures discounts. Meanwhile, multifamily construction continues to support demand, even as overall housing trends flatten. The result is a fragmented, regional “island market” where logistics—not supply—are dictating price. Timeline (Condensed) 0:00 – Market Setup: Weak tone on paper, post-Montreal reset 2:00 – Pine Selloff = Freight Story: Prices down, driven by trucking costs 5:00 – Cash vs Futures Disconnect: Strong Western pricing vs discounted board 10:00 – Supply Constraints: Euro down, Canada tight, limited new supply 15:00 – Housing Demand: Flat overall, multifamily supporting pine 20:00 – Fragmented Market: Regional “islands,” no easy arbitrage 25:00 – Relative Value Trades: 2x6 vs 2x4 spread, board looks cheap 30:00 – Buyer Behavior Shift: Late buying driving higher freight 35:00 – Key Takeaway Trades: Futures and select items show opportunity Advertiser Fastmarkets RISI Dustin Jalbert Senior Economist Wood Products djalbert@fastmarkets.com www.fastmarkets.com Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

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## Transcript

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