The Lumber Word

The lumber market is heading into Q4 with an unusual setup: inventories across the supply chain appear extremely lean, yet buyers still aren't willing to take much risk. In Episode #183, Ashley, Matt, Gregg and Charles dig into what's actually trading versus published prices, growing price disparities between mills, tightening truck availability, rail issues and the increasingly important role of freight. The group also breaks down housing starts, builder headwinds, interest rates and what declining demand could mean for mill production and lumber prices into year-end. With 2x4 looking increasingly vulnerable while several other items remain historically expensive, the conversation turns to the real question for Q4: What should you own, what should you sell, and where is the opportunity? Timeline 00:00 Housing & the Q4 Setup 02:03 Lumber Inventories Running Low 04:03 Less Lumber Than Last Year? 06:06 The Hedging Problem 08:04 Trucking Gets Ugly Again 11:07 Hem-Fir, SPF & Real Prices 13:05 Futures vs. Cash 14:23 Huge Mill Price Disparities 15:37 Are Contract Buyers Overpaying? 16:24 Southern Pine Pricing 19:04 Freight Becomes the Wild Card 22:00 Hem-Fir vs. SPF 24:13 What Changes This Market? 28:20 Rates & Housing Affordability 30:39 Are Builders Slowing Down? 32:04 The Bearish Q4 Case 34:25 Navigating Q4 35:28 Where Opportunities Still Exist 36:21 Apathy Defines the Market 36:39 What to Own & What to Sell 38:06 Marry, Date or Dump 39:03 Where Pine Prices Could Go 39:44 Final Thoughts Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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

The lumber market is moving plenty of volume—but not necessarily going anywhere. This week, Ashley, Gregg and Charles are joined by Bart Charles to break down a market that is strongly sideways. The crew digs into Spruce, Hem-Fir and Southern Yellow Pine, the growing opportunity in forward pricing, tight supply in key items, and why getting aggressively long or short could be a mistake right now. With futures offering opportunities to lock in Q1 business, limited production keeping a floor under prices, and housing demand still fighting affordability, the question becomes: Where is the next real opportunity in lumber? Timeline 00:00 Bart Charles joins the show 01:49 Housing, existing-home inventory & demand 04:18 Is the lumber market “strongly sideways”? 06:19 Coastal Hem-Fir vs. Inland pricing 09:52 Breaking down Hem-Fir and Spruce 13:54 Southern Yellow Pine market update 15:13 Diesel prices, trucking & freight costs 17:03 Where does the lumber market go from here? 19:24 Gregg: The market is “sharply sideways” 21:05 Forward pricing & futures opportunities 23:01 Are buyers willing to pay Q1 premiums? 29:48 Supply reductions, demand & price risk 31:25 Mortgage rates and housing affordability 32:33 Tight inventory and replacement costs 34:28 Are traders still short lumber? 35:09 Short opportunities in Southern Pine 37:03 “Sharply Sideways” becomes the episode theme 39:33 Why getting too long—or too short—could hurt 39:51 Locking in Q1 margins 40:15 Why there's no good inventory hedge right now 41:12 The “O'Hare Hedge” Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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 Guest Bart Charles BCharles@shamrockbm.com

Is the lumber market finally trying to put in a bottom—or is this just another bounce before seasonal weakness takes over? This week on The Lumber Word, Ashley, Gregg, and Charles break down the latest action across SPF, Southern Yellow Pine, Hem-Fir, studs, and CME lumber futures. The guys discuss the growing disconnect between September futures and the cash market, the possibility of taking delivery against September, and why some buyers may want to start covering needs rather than waiting for the perfect bottom. Charles takes a deep dive into Southern Yellow Pine, where sharp price swings, tighter production control, freight volatility, and execution risk are making the market increasingly difficult to trade. The conversation also turns to Southern timberland, falling pulpwood demand, mill closures, and what cheap Southern fiber could mean for lumber production longer term. Then Ashley raises a bigger question: Who is really the smart money in lumber today—the industry or the funds? The guys examine how large systematic and trend-following funds can stay with positions far longer than physical traders expect, ignore traditional ideas like cost of production, and potentially push lumber much farther in either direction than the industry thinks makes sense. The episode wraps with signs of bottoming in futures, narrow Southern Pine, SPF dimension and studs, the possibility of a trading bounce into September expiration, and where November futures could run into resistance. Timeline 00:00 – Opening, Lumber Word merch & potential Traders Market appearance 02:50 – Cash market update and seasonal weakness 04:20 – September vs. November futures and the cash/futures discount 06:30 – Could taking September CME delivery make sense? 08:00 – Is SPF beginning to find a trading bottom? 09:00 – Stud values and major relative-value opportunities 11:10 – Southern Yellow Pine: 4-inch strength and shrinking discount windows 12:45 – Pine volatility, freight costs and huge moves in wides 14:00 – How well is the CME Southern Pine contract tracking cash? 15:45 – Short covering or the beginning of a real market bounce? 20:00 – Why buyers with business on the books may want to start covering 22:00 – Market headwinds: tariffs, mortgage rates and housing demand 25:30 – Seasonal weakness, freight risk and the importance of execution 28:20 – "No edge, no hedge" and finding an advantage in today's market 32:15 – What is happening to Southern U.S. timberland? 33:20 – Cheap Southern fiber, pulp mill closures and long-term implications 38:45 – Industry vs. funds: Who is really the smart money? 40:00 – Why large funds can push lumber beyond industry expectations 42:10 – Cost of production, shutdown economics and lost Canadian production 43:15 – Bottoming signals across futures, Pine, SPF and studs 44:30 – November futures resistance and the September/November spread 46:00 – Closing thoughts Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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

The lumber market is getting interesting again—and the signals aren't exactly lining up. Ashley, Gregg, and Matt break down a market where demand remains “punky,” western species flailing, studs are showing slight signs of life after deep counters, and lumber futures are trading at a steep discount to cash. The big question: Is November lumber really headed toward $500—or is the futures market getting too bearish? Gregg lays out the technical case for why $500 is at least possible, while Matt sees real value developing at current levels and argues that some of the best buying opportunities may be showing up right now. Meanwhile, Ashley asks the question every trader should be asking: Where is the edge? The guys dig into forward pricing, inventory strategy, hedging when the board is at a discount, Canadian tariffs, shrinking contract business, and why 2027 could bring more open-market buying—and potentially more volatility. The takeaway? This probably isn't the market to be a hero. Stay liquid, turn inventory, buy value, sell the overvalued stuff, and be ready when the market finally shows its hand. 1.Timeline 00:00 — Episode #180: What's the market telling us? 01:37 — Housing demand remains “punky” 05:00 — Western species bounce and the buying starts 09:20 — Can lumber really rally into the fall? 11:45 — Is November futures getting too cheap? 14:25 — Forward lumber pricing and the opportunity for buyers 17:00 — Where is the edge in today's lumber market? 18:10 — September/November futures positioning 19:30 — The $500 lumber bomb gets dropped 21:25 — Canadian tariffs, mill economics and supply 25:00 — Should buyers start putting out aggressive Q4/Q1 numbers? 26:45 — How do you manage inventory if lumber falls to $500? 29:00 — Carry less inventory, hedge actively and stay opportunistic 30:20 — What happens if November trades at a huge discount to cash? 33:00 — Could 2027 bring fewer contracts and more open-market buying? 37:30 — Less contract business could mean more volatility 40:15 — Looking ahead to the 2027 lumber market 44:40 — Ashley's lesson: You can get long faster than you think 46:35 — The low-inventory strategy heading into fall 49:00 — What lumber items still have value—and liquidity? 50:20 — $500 lumber: prediction or just a possibility? 52:25 — Are studs signaling the next cash-market rally? 53:45 — Matt's game plan: If cheap 2x4 shows up, buy it 53:55 — Southern Yellow Pine starts bouncing off the lows Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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

The lumber market has cooled off — but has it found a bottom? This week on The Lumber Word, Ashley, Gregg, Matt and Charles break down a market where you can seemingly “sell as much lumber as you want and not make any money.” Eastern SPF has taken a serious haircut, studs are showing signs of life, Southern Pine has firmed from its lows, and low inventories throughout the supply chain could make the next move happen fast. The crew digs into SPF, Southern Pine, Doug Fir, studs, 2x4 and 2x6, where real business is trading, and whether the recent bounce is the beginning of something — or just another short-lived rally in a seasonally softer second half. They also tackle the bigger picture: ugly housing data, mortgage rates, Treasury debt buybacks, CME futures versus cash, forward Q4 business, and what potentially opening more federal land to logging could mean for western sawmills and timber owners. But the real conversation is about risk. Why are people selling forward business below acceptable risk? When should you walk away from an order? Is the market already too short? And after a strong first half of 2026, should traders be shrinking inventory and waiting for the next real opportunity? Matt sums it up: don't buy or sell in a panic. Charles warns against the market's “false sense of security.” And the crew debates whether every rally between now and year-end may be an opportunity to sell. Less inventory. Less risk. Better decisions. And don't sell the bottom. Another unfiltered hour of lumber markets, trading strategy, housing, futures and plenty of Lumber Word banter. Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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 er market has cooled off — but has it found a bottom? This week on The Lumber Word, Ashley, Gregg, Matt and Charles break down a market where you can seemingly “sell as much lumber as you want and not make any money.” Eastern SPF has taken a serious haircut, studs are showing signs of life, Southern Pine has firmed from its lows, and low inventories throughout the supply chain could make the next move happen fast. The crew digs into SPF, Southern Pine, Doug Fir, studs, 2x4 and 2x6, where real business is trading, and whether the recent bounce is the beginning of something — or just another short-lived rally in a seasonally softer second half. They also tackle the bigger picture: ugly housing data, mortgage rates, Treasury debt buybacks, CME futures versus cash, forward Q4 business, and what potentially opening more federal land to logging could mean for western sawmills and timber owners. But the real conversation is about risk. Why are people selling forward business below acceptable risk? When should you walk away from an order? Is the market already too short? And after a strong first half of 2026, should traders be shrinking inventory and waiting for the next real opportunity? Matt sums it up: don't buy or sell in a panic. Charles warns against the market's “false sense of security.” And the crew debates whether every rally between now and year-end may be an opportunity to sell. Less inventory. Less risk. Better decisions. And don't sell the bottom. Another unfiltered hour of lumber markets, trading strategy, housing, futures and plenty of Lumber Word banter. Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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

The lumber market just dropped roughly $100 in three weeks - but is the selloff creating the next big buying opportunity?  In Episode #178 of The Lumber Word, industry veteran Sig Thoma joins Ashley, Gregg, and Matt for a wide-ranging conversation about what's really happening beneath the surface of the lumber market.  Inventories are getting lean, cash prices are falling well below published levels, and CME lumber futures are carrying a major discount. Sig brings a broader perspective to the conversation, including a fascinating look at a massive lumber buyer whose sheds were nearly empty - a sign that the industry may be running much leaner than many realize.  The crew dives into Southern Yellow Pine, Canadian SPF, Western species, OSB, European lumber, housing and mill profitability. Sig explains why the OSB market has effectively become two different markets, with dramatically different pricing between the U.S. South and West.  Then the conversation gets deeper.  Why aren't more sawmills using CME lumber futures to lock in profitable sales? Could increased futures participation improve price discovery across the entire lumber industry? And could a transparent U.S.-based futures market eventually become part of the argument surrounding Canadian anti-dumping duties and how lumber's true market price is established?  Sig also breaks down the housing problem: mortgage applications have fallen sharply from their June highs, new-home sales remain well below historical peaks, and affordability continues to constrain demand.  The episode finishes with a fascinating discussion about pulp capacity and something most lumber buyers rarely think about: sawmill byproducts. Chips, sawdust, shavings and residual values can materially change sawmill economics - and losing pulp outlets could ultimately influence lumber production itself.  Is this simply an August lumber correction - or is the market setting up for its next major trade?  Timeline  00:00 - Lumber drops roughly $100 & the CME discount  06:00 - Cash lumber, mill pricing & where buyers are hiding  10:40 - Sig's incredible look at extremely lean inventories  14:25 - Southern Yellow Pine economics & Canadian SPF losses  15:00 - Sig breaks down the strange OSB market  17:20 - European lumber arrivals & Eastern SPF  20:00 - Western species vs. CME futures  21:00 - Why aren't more sawmills using lumber futures?  25:00 - Forward pricing opportunities & multifamily  27:00 - Where could the lumber market finally bottom?  29:20 - What happens if you actually take CME delivery?  31:00 - Sig on futures culture & changing the lumber industry  32:20 - Housing, mortgage applications & affordability  35:50 - Southern sawmills, pulp capacity & mill economics  39:45 - Canadian lumber duties delayed  41:00 - Could CME pricing challenge the anti-dumping argument?  44:00 - Manufacturing, tariffs & deglobalization  46:30 - A wild real-world CME delivery story  48:15 - Sig closes with a classic story & market warning  Keywords  Lumber Market, Lumber Prices, Sig Thoma, CME Lumber Futures, Lumber Futures, SPF Lumber, Canadian Lumber, Southern Yellow Pine, OSB Prices, Housing Market, Mortgage Rates, Sawmills, Lumber Duties, Anti-Dumping Duties, Softwood Lumber, Lumber Trading, Building Materials, Wood Products, Lumber Industry, The Lumber Word Podcast 

This week on The Lumber Word, Ashley Boeckholt, Gregg Matt, and Charles welcome Kyle Little, COO of Sherwood Lumber and Immediate Past Chair of NAWLA, for an in-depth conversation on one of the biggest changes in the lumber industry's premier trade organization. Kyle explains how NAWLA is opening its 2026 Traders Market in Anaheim, CA, November 4-6, to the broader wood products industry, making networking, education, and collaboration more accessible than ever before. The discussion also explores the association's long-term vision and why these changes could reshape industry relationships for years to come. The crew then shifts to today's lumber market—covering lean inventories, Southern Yellow Pine pricing, Western species, Canfor's Fox Creek closure, multifamily housing demand, futures positioning, and the trading opportunities emerging from historically wide species spreads. Whether you're a trader, sawmill, distributor, dealer, builder, or housing professional, this episode delivers practical market intelligence you can use immediately. Episode Timeline 00:00 – Welcome Kyle Little & NAWLA updates 03:00 – Why NAWLA is opening the Traders Market 12:00 – Wood Basics, leadership development & networking 19:15 – Current lumber market conditions 22:45 – Lean inventories and housing demand 25:00 – Southern Yellow Pine outlook 28:00 – Western species, production & wildfire discussion 33:30 – Doug Fir vs. SPF vs. Southern Pine trading opportunities 37:45 – Bullish and bearish market picks 43:00 – Best buying opportunities in today's lumber market 46:45 – Interest rates, housing & what comes next 51:00 – Sherwood Lumber updates and final thoughts Guest Kyle Little, COO, Sherwood Lumber KLittle@sherwoodlumber.com NAWLA: North American Wholesale Lumber Association 2026 Traders Market Information If you want to meet with the top companies and individuals in the industry, this is a must-attend! https://nawla.org/events/tradersmarket Matt Bruno: Executive Director, NAWLA MBruno@nawla.org Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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  

The lumber market may feel quiet, but beneath the surface, major forces are shaping the second half of 2026. In Episode 176 of The Lumber Word, Ashley, Gregg, Matt, and Charles break down slowing summer activity, surprising housing data, Canadian production cuts, Southern Yellow Pine trends, and why lumber futures remain one of the industry's most underused risk management tools. Plus, the crew dives deep into species spreads, pricing opportunities, and what separates great lumber traders from everyone else. Timeline 00:00 – Summer slowdown or just a seasonal pause? 05:30 – Housing starts surprise the market: supply vs. demand 13:00 – Canadian curtailments, fiber shortages & wildfire impacts 17:00 – Southern Yellow Pine futures and managing price risk 25:00 – Why the panel is hedging lumber futures today 31:00 – Species spreads: SPF vs. Doug Fir, Hem-Fir & Southern Pine 35:00 – Why traders love the 'in the weeds' market discussion 39:00 – How great lumber traders are developed—and why training still matters

The lumber market may feel quiet—but beneath the surface, major shifts are taking place. In Episode #175 of The Lumber Word, Ashley Boeckholt, Greg Riley, Matt Beymer, and Charles DeLaTorre discuss why the current market could be setting up for its next significant move. The crew breaks down Canadian SPF, Southern Yellow Pine, Western species, and why inventory positioning may matter more than ever heading into late summer. Matt shares insights from the Inland Lumber Producers Conference, highlighting how market conditions have become highly regionalized across North America. The conversation also pays tribute to three respected industry leaders whose retirements mark the end of an era in the lumber business. Other topics include: • Is SPF 2x4 the cheapest value in North American lumber today? • Could Western Spruce reach $700 by Labor Day? • Southern Yellow Pine supply, production cuts, and inventory trends • Why mills still aren't chasing production despite stronger pricing • Forward pricing opportunities and why buyers remain cautious • Canadian shipment trends and what they signal for the second half of 2026 • The importance of mentorship, relationships, and reputation in the lumber industry Whether you're a lumber trader, sawmill executive, wholesaler, retailer, builder, or simply follow North American wood products markets, this episode delivers practical market intelligence and industry insight you won't want to miss. Simple Timeline 00:00 – Episode 175 begins and current lumber market overview 02:00 – Why SPF 2x4 appears undervalued compared to other lumber products 06:00 – Customer visits, building relationships, and selling opportunities 07:00 – Matt's recap of the Inland Lumber Producers Conference 09:45 – Honoring retiring lumber industry leaders 17:30 – Mentorship and why relationships define long-term success in lumber 18:00 – Southern Yellow Pine market update with Charles 20:00 – Western species, Douglas Fir, Hem-Fir, and current trading conditions 23:00 – Distribution inventories, buying strategies, and market positioning 25:45 – Forward pricing opportunities and why buyers remain hesitant 27:00 – Dimension lumber discussion: 2x10s, 2x12s, and seasonal production trends 33:00 – Canadian production, stud mills, and profitability 37:00 – Pulp markets, fiber supply, and residual economics 39:30 – Canadian shipment data, inventory outlook, and what's next for the lumber market.

Russ Taylor of Russ Taylor Global returns to The Lumber Word for a deep dive into one of the most fascinating lumber markets in years. The crew discusses shrinking North American production, tightening inventories, Canadian export trends, Southern Pine pricing, mill profitability, tariffs, transportation, and why supply—not demand—continues to drive prices. With production capacity permanently removed across North America and limited ability to quickly restart mills, the panel explores whether higher prices are here to stay into late 2026. If you trade, manufacture, distribute, or simply follow the lumber industry, this episode delivers market intelligence you won't want to miss. Timeline 00:00 – Soccer banter before shifting into lumber markets. 02:00 – Current SPF and Southern Pine market conditions and regional pricing. 08:00 – Russ Taylor reviews Canadian production and export data. 15:00 – Mill profitability, duties, tariffs and North American cost structures. 21:00 – Why supply constraints are outweighing demand. 28:00 – Southern Pine production, logistics and trucking challenges. 34:00 – Wood chip markets, pulp demand and byproduct economics. 35:30 – 30-, 60- and 90-day market outlook and pricing expectations. 41:00 – Canadian shipments, tariff timing and closing market outlook. Guest: Russ Taylor WWW.russtaylorglobal.com   Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@fastmarkets.com

Episode Summary Episode #173 welcomes returning guest Mike Wisnefski of Westline Capital for an in-depth discussion on the evolving lumber market. The panel explores lessons from the Southern Pine Conference, why the CME Southern Pine futures contract could benefit from monthly expirations, and how better participation could improve liquidity. Mike shares how private equity ownership is changing sawmill decision-making, while the group examines why Western and Eastern lumber markets have tightened despite mixed economic headlines. The conversation also dives into inventory strategy, options pricing, reload capacity, trucking, and the growing importance of disciplined risk management. Finally, the hosts debate housing policy, builder demand, infrastructure, and why regional economics continue to drive long-term lumber consumption. This episode offers practical insights for wholesalers, retailers, mills, traders, and anyone following the North American lumber industry. Timeline 00:00 – Introductions, Chicago sports, and welcome back to Mike Wisnefski. 02:00 – Southern Pine Conference recap—networking, collaboration, and supply chain partnerships. 04:00 – Private equity ownership of sawmills and changing mill economics. 05:30 – Future of the CME Southern Pine futures contract and ideas for improving liquidity. 10:00 – Cash settlement, delivery points, and regional pricing challenges. 15:00 – Western lumber market strength, improving order files, and species updates. 18:00 – Dimension shortages, 2x10 pricing, and shifting production patterns. 20:00 – Eastern market tightness, European imports, and shrinking inventories. 25:00 – Housing legislation, permitting challenges, and rebuilding constraints. 31:30 – Regional migration, affordability, and long-term housing demand. 34:00 – Inventory strategy, reload economics, and why distributors are regaining value. 40:00 – Options pricing, risk management, and disciplined trading strategies. 44:00 – Closing thoughts on market structure, hedging opportunities, and the second-half outlook. Guest: Mike Wisnefski from Westline Capital Strategies Inc. MikeW@westlinecapital.com   Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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

Matt Layman returns to The Lumber Word for an in-depth discussion on one of the hottest topics in the lumber industry: the summer lumber rally. With inventories running lean, freight markets tightening, and mills extending order files, the crew explores whether lumber prices still have room to run. The conversation begins with a recap of the Southern Pine hedging seminar hosted by StoneX and Westline Capital, where attendees discussed the future of lumber risk management, liquidity challenges, and why more companies need to gain hands-on experience using futures markets. The group then shifts to the cash lumber market, breaking down strength in SPF, Southern Yellow Pine, Hem-Fir, and Douglas Fir. Matt shares what he's seeing in the Pacific Northwest, while Gregg and Ashley discuss supply constraints, delayed shipments, trucking shortages, and why buying lumber is becoming harder than selling it. They also analyze the latest housing starts data, debate whether demand is stronger than many expect, and discuss how lean inventories throughout the supply chain continue to support higher prices despite widespread economic pessimism. Plus: freight disruptions, rail delays, inventory management, futures trading lessons, Elon Musk, SpaceX, and Ashley's outlook for where lumber prices may be headed through July and beyond. If you're a lumber dealer, wholesaler, manufacturer, builder, trader, or investor looking to stay ahead of the market, this episode is packed with actionable insights. Topics Covered Lumber Market Outlook SPF Lumber Prices Southern Yellow Pine (SYP) Hem-Fir & Douglas Fir Markets Lumber Futures & Hedging Freight & Trucking Costs Rail Service Challenges Housing Starts Analysis Inventory Management Lumber Industry Economics SpaceX & Market Psychology Summer 2026 Lumber Rally Timeline 00:00 – Matt Layman Returns to The Lumber Word 03:00 – Southern Pine Futures, Hedging & Market Participation 07:00 – Risk Management: How Lumber Companies Should Think About Futures 15:00 – Trading Lessons: Winning, Losing & Market Discipline 16:00 – SPF, Hem-Fir & Douglas Fir Break Higher 21:00 – Is Southern Yellow Pine Finally Joining the Rally? 27:00 – Housing Starts: What the Headlines Missed 30:00 – Elon Musk, SpaceX & Economic Optimism 34:00 – Ashley's Bullish Case for Lumber 38:00 – Freight Bottlenecks, Rail Delays & Inventory Shortages 44:00+ – Why Buying Lumber Is Harder Than Selling It Episode Takeaway The lumber market continues to be driven by one simple reality: inventories remain too low while supply struggles to keep up. Despite negative sentiment around housing and the economy, buyers continue to chase wood, mills are extending order files, and freight remains a major constraint. The panel agrees that the path of least resistance for lumber prices remains higher until inventories are rebuilt and supply catches up.   Guest: Matt Layman www.laymansguide.com Matt@laymansguide.com   Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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  

The lumber market may be sending its clearest signal of 2026: supply is shrinking, inventories are lean, and futures are leading the charge higher. In Episode 171, the crew welcomes industry veteran Kip Fotheringham for a deep dive into the forces reshaping North American lumber markets. From tightening SPF supply and Southern Yellow Pine transportation challenges to Canadian curtailments, futures fund short covering, and the surprising resilience of housing demand, the group lays out the bullish case that's beginning to unfold. They debate whether we're in the first inning or the third inning of a larger rally, examine why major funds are potentially abandoning short positions, and discuss how shrinking production capacity could collide with steady demand to create a much tighter market through the summer. The conversation also explores Berkshire Hathaway's investment in homebuilding, multifamily construction strength, pulp mill closures, fiber supply challenges, and the Longview explosion's potential impact on Western sawmill production. If you're a lumber buyer, trader, mill operator, or builder, this episode offers a roadmap to the risks—and opportunities—developing beneath the surface of today's market. Timeline 00:00 – Lumber, Airports & Industry Reach Portland Airport gets a surprising shoutout, and the crew shares a story highlighting how The Lumber Word continues to influence industry conversations. 03:30 – Are We Early in a Bull Market? The panel debates whether the lumber rally is just getting started and what buyers should be doing right now. 07:00 – Transportation Becomes the Story Escalating trucking costs and regional supply constraints are changing how lumber moves across North America. 09:00 – Canada's Supply Problem Gets Real Discussion on curtailments, mill economics, and why North American production continues to shrink. 15:00 – Why This Summer Feels Different The crew explains why inventory positions, contract reductions, and tariff pressures have created an unusual setup. 22:00 – The Longview Explosion & Fiber Fallout A major disruption in the Pacific Northwest raises new questions about residual markets and future sawmill production. 25:00 – Smart Money is Buying Housing Berkshire Hathaway, Japanese investors, and multifamily construction all point toward longer-term confidence in housing demand. 30:00 – Funds Are Covering Shorts Kip breaks down what the futures market is signaling and why short-covering could fuel a larger move higher. 35:00 – What Could Derail the Rally? The group examines the biggest risks to their bullish outlook and what buyers should watch over the next 30 days. 44:00 – Final Take: Bullish Until Proven Otherwise The episode wraps with a discussion on shrinking supply, steady demand, and why the market's biggest surprise may still be ahead. Guest: Kip Fotheringham Lumber Trader and Market Expert KipF@telus.net   Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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

This week on The Lumber Word, the crew tackles the biggest issue in lumber today: freight. From Buffalo reloads buried under railcars to Southern Pine mills struggling with transportation costs, the conversation centers on how logistics—not mill prices—are driving the market. The team discusses tightening inventories, shrinking North American supply, species substitution, and why prompt wood may be worth more than ever. Gregg doubles down on his bullish lumber outlook, while the group debates whether SPF is significantly undervalued heading into the second half of 2026. If freight remains tight and supply stays constrained, the market could be setting up for a stronger move than many expect. Timeline 0:00 – Back From the Road – Travel stories, reload visits, and market observations. 2:00 – Buffalo Is Jammed – Railcars are arriving fast and unloading slowly. 5:00 – Chicago Reload Expansion – New capacity could become a major advantage. 7:00 – Freight Is the Story – Higher trucking costs are changing lumber economics. 11:00 – Pine Mills Hit the Brakes – Transportation issues may be limiting production. 15:00 – Contract Pricing Gets Tested – Suppliers are absorbing freight pain. 18:00 – Rail vs. Truck – Why transportation knowledge is becoming a competitive edge. 23:00 – Greg's Bull Case – Less supply, steady demand, and higher prices ahead. 29:00 – Prompt Wood Wins – Inventory ready to ship is commanding a premium. 32:00 – Lean Pipelines Everywhere – Buyers may be more undercovered than they realize. 35:00 – Second Half Setup – The crew sees more reasons for lumber to rise than fall. Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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

The crew breaks down a lumber market that feels calm on the surface but is getting tighter underneath. Trucking is a disaster, inventories stay lean, mills are not panicking, and buyers still have not adjusted. 0:00-4:00 - College kids, Waymos, and bad decisions after midnight 4:00-9:00 - SYP stabilizes but trucking wrecks pricing 9:00-15:00 - Freight market insanity and disappearing trucks 15:00-22:00 - Spruce stays steady while inventories thin out 22:00-28:00 - Canadian curtailments and supply fears build 28:00-34:00 - Reloads emptying and buyers still underbought 34:00-39:00 - Futures, no hedge, and bullish summer bets Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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

This week on The Lumber Word, Matt, Gregg, Ashley, and guest Mike Wisnefski from Westline Capital Strategies break down one of the most interesting lumber markets in years. The crew discusses low volatility, lean inventories, seasonal strength, futures market psychology, pine versus spruce pricing, multifamily demand, and why the next major lumber move could happen fast. The episode also explores European lumber markets, supply chain transparency, and current housing market realities. Timeline 0:00 – Intro & Mike Wisnefski joins 1:45 – Market feels split 4:10 – Western lumber floor 7:30 – Seasonal market trends 12:00 – Curtailments & duties 15:20 – Futures pessimism 17:30 – Housing & multifamily 22:45 – Volatility discussion 27:00 – Inventory strategy 29:00 – Pine vs spruce 35:30 – Europe market insights 39:30 – Quarterly pricing 42:00 – Final market outlook Guest: Mike Wisnefski from Westline Capital Strategies Inc. MikeW@westlinecapital.com SYP June 2026 SYP StoneX Southern Yellow Pine Lumber Risk Academy June 9, 2026-June 10, 2026 Information and Registration for the SYP Hedging Academy https://stonex.cventevents.com/event/SYPLRA2026/summary Advertiser Fastmarkets RISI Tiranth Amarasinghe Product Marketing Manager Tiranth.Amarasinghe@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

This week on The Lumber Word, Ashley, Gregg, Matt, and Charles break down one of the more confusing lumber markets in recent memory. Despite fears coming out of Montréal, buyers haven't really changed behavior, trucking is slowly improving, and distributors are still moving wood. The crew dives deep into the widening divide between Southern Pine and Western species, shrinking production, freight chaos, inventory strategy, and whether the market is quietly building the foundation for higher prices later this summer. The big question: are we in equilibrium… or on the verge of another squeeze? Timeline 0:00 – 3:00 — Market recap after Montréal, trucking loosens up, buyers still active 3:00 – 6:00 — Southern Pine weakness vs strong 2x6 demand across Western species 6:00 – 10:00 — Inventory turns, mills running less 2x4, and distributors staying busy 10:00 – 15:00 — Housing data surprises to the upside and Gregg explains why he's leaning bullish 15:00 – 20:00 — Canadian market softness vs tight U.S. Western supply 20:00 – 27:00 — Risk management, shrinking spreads, and why nobody wants to speculate 27:00 – 33:00 — Freight volatility and the challenge of quoting future delivered business 33:00 – 40:00 — Pine finding a bottom, species spreads, and what could trigger the next move higher 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   ne of the more confusing lumber markets in recent memory. Despite fears coming out of Montréal, buyers haven't really changed behavior, trucking is slowly improving, and distributors are still moving wood. The crew dives deep into the widening divide between Southern Pine and Western species, shrinking production, freight chaos, inventory strategy, and whether the market is quietly building the foundation for higher prices later this summer. The big question: are we in equilibrium… or on the verge of another squeeze? Timeline 0:00 – 3:00 — Market recap after Montréal, trucking loosens up, buyers still active 3:00 – 6:00 — Southern Pine weakness vs strong 2x6 demand across Western species 6:00 – 10:00 — Inventory turns, mills running less 2x4, and distributors staying busy 10:00 – 15:00 — Housing data surprises to the upside and Gregg explains why he's leaning bullish 15:00 – 20:00 — Canadian market softness vs tight U.S. Western supply 20:00 – 27:00 — Risk management, shrinking spreads, and why nobody wants to speculate 27:00 – 33:00 — Freight volatility and the challenge of quoting future delivered business 33:00 – 40:00 — Pine finding a bottom, species spreads, and what could trigger the next move higher 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  

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  

Summary Recorded during Montreal Wood Convention week with Kip Fotheringham, this episode breaks down a confusing but strong lumber market. Truck demand is hot, rail is lagging, and inventories are being drawn down while big buyers stay just-in-time. Euro supply is tightening, tariffs remain a wildcard, and mills still aren't making money—keeping supply in check. The big question: Is this market about to roll over… or keep grinding higher? Timeline 0:00 – Market confusion + SYP volatility 2:00 – Truck vs rail market split 4:00 – Inventory drawdown strategy 6:00 – SPF strength + tight supply 8:00 – Euro supply dropping off 12:00 – Tariffs (AR6 → AR7) breakdown 15:00 – Mills still losing money 18:00 – Logistics driving everything 25:00 – Macro + economy check 27:00 – SYP gaining market share 38:00 – Futures shifting (contango → tighter) 46:00 – Just-in-time buyers vs distributors Guest Kip Fotheringham kip@telus.net   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

Ashley, Gregg, Matt, and Charles are joined by Brian Wesbury, Chief Economist at First Trust Advisors, a bestselling author, and one of the most sought-after voices in macroeconomics today. When markets get noisy, Brian's the guy cutting through it with data and conviction. The crew dives into the macro forces shaping lumber—from government spending and the “K-shaped” economy to housing completions, freight spikes, and regional demand shifts.  They break down why affordability is still broken, what's driving trucking chaos, and whether strong Southern demand can carry the market forward. Plus—how AI, migration trends, and policy decisions could reshape housing, labor, and the broader economy. If you want to understand where lumber demand is heading (and why), this one delivers. Timeline 00:00 – Brian Wesbury joins + macro setup  03:30 – Taxes, migration & policy shifts  08:30 – Government spending vs affordability  14:00 – Housing completions & demand outlook  16:00 – Freight spikes & supply chain issues  18:30 – Southern vs Northern demand  24:00 – The “K-shaped” economy explained  30:00 – Growth, incentives & middle class  41:00 – AI, jobs & future risks  Guest Brian S. Wesbury Chief Economist / First Trust www.ftportfolios.com       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

Holy Week edition with a major announcement—The Lumber Word is going subscription for people wanting to listen first! The crew breaks down what that means, why timing matters in a 24–48-hour data market, and then dives headfirst into one of the wildest setups we've seen: freight chaos, pine vs. spruce divergence, and a market that might still have legs… or be closer to the edge than you think. Timestamps: 0:00 – Holy Week kickoff + big shift to subscriber early access (no ads, faster intel) 4:00 – Russ Taylor debate, AD/CVD reality, and why nothing's changing soon 9:00 – Freight explosion: rail surcharges + trucking volatility crushing margins 13:00 – Back-to-back trading vs. real value in a chaotic logistics market 14:00 – Pine vs. Spruce: why SYP ripped and SPF lagged hard 20:00 – Contracts vs. spot market—are they distorting price discovery? 29:00 – Freight as the real driver of the pine rally (canary in the coal mine) 33:00 – Bull market or head fake? Supply cuts vs. pipeline restock debate 35:00 – “Seller arrogance” = warning sign of a potential top 40:00 – Buyers scrambling to rebuild inventory + hot items emerging fast Takeaway: Freight is the hidden force, Pine led the charge, and now the market's walking a tightrope between a continued grind higher… or the early signs of a summer reset.   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  

Mike Logelin (Gulf Coast Shelter) is back and breaking down what it really looks like to build a lumber business from the ground up—team building, growing pains, and why patience matters in today's market. Then the crew dives headfirst into one of the most dynamic setups we've seen in a while: tightening supply, exploding low-grade pricing, and a freight market that's turning everything upside down. From Southern Yellow Pine ripping higher to spruce and hem-fir tightening fast, this episode connects the dots between species spreads, trucking chaos, and why the next “panic buy” moment might be closer than you think. If you want to understand what's actually driving this market—and where the opportunity (and risk) is—this one delivers. Timestamps 0:00 – Intro + Mike Logan returns 1:00 – Building a trading team from scratch (startup realities) 5:00 – Hiring, training, and the next generation in lumber 7:45 – Market kickoff: everything moving higher 9:00 – Texas demand, low inventories, and species substitution 12:00 – Low-grade explosion (why #3 is driving the bus) 16:00 – Hem-fir + western market tightness 17:45 – Southern Yellow Pine surge + short positions 19:30 – Freight chaos: trucks disappearing, costs spiking 23:00 – Why logistics = real pricing power right now 27:00 – Regional markets tightening due to freight 29:00 – When does the “panic buying” moment hit? 30:30 – Global flows (Euro, Middle East disruption) 33:30 – Macro curveballs: rates, crypto, housing demand 36:30 – Inventory positioning: who's exposed right now Guest Mike Logelin President-Gulf Coast Shelter mlogelin@gulfcoastshelter.com 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

The lumber market just flipped. What looked slow turned into real buying, tightening supply, and rising prices—fast. This week, the crew breaks down why low-grade and studs are leading, freight is becoming a major constraint, and order files are pushing into April. Buyers who waited are now chasing, while supply cuts and steady demand raise a bigger question: are we already short of wood? If so, this move may just be getting started. Timeline 0:00 – Market flips from slow to active 2:30 – Low-grade & studs lead strength 7:00 – Prices up ~$100+ since Nov 10:00 – Order files into April 12:00 – Freight tightening supply 15:00 – Buyers now chasing 28:00 – Supply vs demand imbalance 35:00 – Early innings of the move 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

Freight is exploding, mills are pulling back, and lumber prices are quietly starting to run. The lumber market flipped fast this week. Freight costs surged, Canadian mills stepped back from truck shipments, and prices began climbing across species. Ashley, Matt, Gregg, Charles, and Sig break down tightening supply, Southern Yellow Pine strength, and whether this is the start of a spring lumber run or just another head fake in the cycle. Spotify Timeline (Chapters) 00:00 – Intro & market setup 03:00 – Freight costs jump 07:00 – Pine vs spruce pricing 12:00 – Supply vs willingness to pay 18:00 – Demand drivers (R&R and housing) 26:00 – Second‑half market outlook 31:00 – Buyer strategy in this market 38:00 – Futures & trade ideas 41:00 – OSB and other materials Guest Sig Thoma Sig@XMICO.com   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

The lumber market is deep in the **fog of war**. Freight is tightening, trucking rates are jumping, and species spreads are shifting fast. In Episode #159, Ashley, Gregg, Matt, and Charles break down why flatbed capacity is suddenly scarce, how Southern Yellow Pine is catching a bid while eastern spruce softens, and what heavy Doug Fir production in the West could mean for the market. The crew also tackles the big question: **where is the missing demand?** Canadian shipments are down, production is lower across North America, yet prices haven't fully reacted. Are buyers simply running leaner inventories and buying lumber just‑in‑time? If you buy, sell, trade, or build with lumber, this episode helps you navigate freight disruptions, changing buying habits, and the real supply‑and‑demand signals shaping the 2026 lumber market. Chapters 0:00 – The Fog of War in the lumber market 1:00 – Trucking shortages and rising freight costs 6:30 – Why freight tightens every spring 12:30 – Futures vs. cash lumber pricing 16:00 – Doug Fir, spruce, and pine market dynamics 20:00 – Southern Yellow Pine strength 24:00 – Just‑in‑time lumber buying 27:00 – Lumber price outlook 30:00 – Mortgage rates and housing demand 33:00 – Western supply shifts 36:30 – Final market takeaways     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

Kip Fotheringham joins the crew to break down a lumber market that feels coiled. Canadian shipments are down 30% year-over-year. Inventory on the ground is near multi-year lows. Futures are trading at a discount to cash. And dealers are running lean. So are we stuck in a trading range… or one buying shift away from a $100 move? In this episode, the guys debate: Why majors aren't aggressively EFP'ing Government “support” vs. subsidy risk in Canada Southern Pine regional price spreads What happens if retailers add just 2–3 weeks of inventory Why breakeven doesn't matter — return on capital does Tariff noise vs. actual lumber exemption rules Is the low already in? Or are we just chopping sideways?   Strap in. Timestamps 00:00 – Welcome + Kip joins 02:00 – Cash vs. futures disconnect 04:00 – 30% drop in Canadian shipments 10:00 – Southern Pine update 18:30 – Lean inventories & catalyst discussion 24:00 – Trading range debate 36:00 – Why mills keep running 42:00 – Tariff clarification   Guest:  Kip Foteringham Independent Trader and Market Analyst  kipf@telus.net   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    

This week, we welcome Thomas Mende back to break down what's really happening in the lumber market. Eastern Spruce is showing selective discounts (especially 16's), Southern Pine had midweek block buying, and Western low-grade is tight while higher grades sit. Are we finally near equilibrium? Thomas walks through European production declines, rising log costs, and why tariffs alone don't drive shipments — economics do. Canadian shipments are down sharply year over year, and when you combine that with slightly softer housing starts, supply and demand may be closer than most think. We also dig into the flattening futures curve, what that means for hedgers, whether Southern Pine mills are actually making money, and why a flat market might cause the most pain. If you trade lumber, build with it, or hedge it — this one matters. Timestamps 00:00 – Market pulse: Spruce, Pine & truck spreads 06:30 – Southern Pine block buying & 16' pricing 10:00 – Europe shipments, tariffs & rising log costs 17:30 – Western market: low-grade squeeze 21:30 – Housing starts & real wood usage math 27:00 – Canadian shipment declines 31:00 – Futures flattening: what it means 35:30 – Mill closures & Southern Pine profitability 40:00 – Softwood Lumber Board & CLT demand growth 45:00 – Tariff ruling update & market outlook     Advertiser: Fastmarkets RISI Dustin Jalbert Senior Economist Wood Product djalbert@fastmarkets.com www.fastmarkets.com Guest: Thomas Mende Thomas.Mende@binderholz.com https://www.binderholz.com/   Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

Is the lumber market quiet… or is it weak? That's the debate this week on The Lumber Word Podcast. Charles breaks down how SYP is trading — some items are moving, but others are dug in tight. Matt walks through what he's seeing in Texas as activity starts to open up, and why low-grade SPF is creeping closer to #2 in ways that matter. Gregg zooms out to the macro, unpacking monetary supply and asking the big question: what kind of price move would hurt the most people the most?  Ashley connects the dots on what he knows is happening in real-time supply and demand. Did we leave the studio sucking our thumbs… or bulled up and ready?  Crush the follow button and find out. 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  

Senior Economist Dustin Jalbert from Fastmarkets is back, and that means it's time to stress-test the lumber market. We dig into real supply and demand, where we are in the cycle, and what buyers and sellers are actually saying. Were we too bullish the past few weeks? Will the cost of production finally pull capacity, or do higher prices today just set up lower prices tomorrow? Tune in and recalibrate your lumber compass.   Advertiser and Guest 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

Two familiar faces are back as Bart Charles and Matt Layman join us to break down a lumber market that just won't quit. Prices across all species are climbing the classic wall of worry—up nearly $100/MBF in the last two months and still catching a bid. With big multifamily jobbers caught short and orders leaking back in, is an $800/MBF print really in play? Take a breather, hit play, and hear what we think—most listeners walk away a lot smarter and entertained.   Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Advertiser and Guest Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com Guest Bart Charles Atlantic Forest Products charles@atlanticforest.com Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

The lumber market keeps showing strength across all species. Gregg and Matt discuss longer-term multifamily projects starting to appear, while Charles breaks down how Southern Pine strength has evolved. We're seeing tight availability, trucks being chased after purchase, and the same quotes coming back days later — classic up-market signals that surprised many. How long does it last? Tune in to find out.   Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Lumberhub.net George@Lumberhub.net   Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com  

This episode of The Lumber Word is dedicated to Scott Adams, who passed away this week. One of the main reasons this podcast exists is because of his influence—his ability to cut through noise, challenge assumptions, and explain complex systems in a way that actually made sense. That mindset is at the core of what we try to do every week: make this podcast useful and give back to the lumber industry. Thanks, Scott. Gregg, Matt, Ashley, and Charles circle up and jump right into North American species dynamics, with a quick (and well-earned) look back at calling the Q1 price move—and then a deeper discussion on the more important question: how far can it go from here? With demand still a head-scratcher and supply slowly coming off the board, the group breaks down what this tightening setup could mean over the next few months. You'll hear exactly how we're thinking about inventory positioning, hedging, and pricing strategy in this market. Charles goes the extra mile with a boots-on-the-ground read of SYP, sharing what the market feels like—not just what the numbers say. If lumber is an input cost, your main cost, or something you actively trade, this episode reinforces why The Lumber Word remains the go-to podcast for practical, real-world market insight. Thanks for listening. Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

Matt, Gregg, Ashley, and Charles kick off the New Year by breaking down the flow of lumber heading into 2026. From what different species are doing to why listeners of The Lumber Word tend to be a step ahead. The crew digs into market positioning, hedging misconceptions, and where real opportunity lies. If you want a few laughs and to be a smarter, better-prepared lumber trader in 2026, this episode is a must-listen.   Advertisers: Fastmarkets Random Lengths 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

Alex Mead from StoneX joins Gregg, Matt, Ashley, and Charles for a milestone Episode 150 packed with market insight. The group breaks down current lumber conditions, why the new CME SYP lumber contract is positioned to grow in the coming years, and what the Commitment of Traders Report is signaling about the next move. They discuss the wide spread between CME and spot lumber, how buyers across the supply chain are reacting, and whether being short into Q1 could be risky. Stick around to the end for early 2026 forecasts and a strong close from Matt, highlighting gratitude for the industry and why this market still matters. Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Guest: Alex Mead Risk Management Consultant StoneX Alex.mead@stonex.com

Industry veteran Sig Thoma joins Gregg, Matt, and Ashley to break down a lumber market searching for direction. The crew digs into mill fixed costs, why curtailments are so tough, and where early green shoots may appear heading into 2026. They debate contracts vs. VMI for next year, highlight what sellers are doing, and share the items they're buying—plus the risk strategies they're using right now. A fast, insightful episode to help you trade smarter. Guest: Sig Thoma / Industry veteran Sig@xmico.com Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com  

In Episode #148 of The Lumber Word, Matt, Gregg, Charles and Ashley sit down with Kyle Little, COO of Sherwood Lumber and current NAWLA Chairman, to talk about staying grateful in one of the toughest markets we've seen in years. Kyle gives an inside look at what NAWLA is working on to improve meetings and member engagement, while the crew runs through a quick market round robin — how short is multi-family, where inventory is hiding, 2x4 #2 R/L Chicago trading around $485–$495, and whether the three-year streak of $30 CME rolls can keep going. Who are the Long CME traders? They hit SYP futures, new potential deliverables in the legacy lumber contract, whether big buyers are stepping in, and if demand is starting to feel a little 2008-ish. The episode wraps with thoughts on growing customers in a slow market and what the industry can learn from this moment. Guest: Kyle Little COO of Sherwood Lumber and Current NAWLA Chairman klittle@sherwoodlumber.com NAWLA Contact Information Matt Bruno MBruno@nawla.org https://nawla.org/ Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

This week we welcome back one of our favorite guests — and sponsor — Matt Layman. The crew breaks down the strange mood gripping the industry: no curtailments, exhausted traders, Repair & Remodel softening, and customers disappearing into the weeds. We run through every major species, what's cheap, what's expensive, and how November expiration and January futures could shape the next move. Matt shares what his members are seeing across retail, multifamily, and manufacturing, while the team debates whether mills get bank lifelines or if cuts finally hit. We look at Home Depot's outlook, immigration's impact on the economy, and how much wood needs to come off for any kind of Q1 rally. If you're trying to navigate this market or plan for H1 2026 business, this episode is loaded with takeaways. Come for the insight — leave smarter.   Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com  

Gregg, Matt, and Ashley dive right in this week after a jam-packed NAWLA Traders event in Kansas City. The trio breaks down the mood coming out of the show — who was optimistic, who wasn't, and what that means for the lumber market heading into year-end. They take a hard look at the November CME lumber expiration, asking whether open interest is too high or if most of it will roll into EFPs as the year winds down. The conversation heats up around curtailments, demand signals, and what kind of event or news could realistically turn the market around — or if things are really that bad. The guys wrap things up by sharing what they're buying, selling, and watching, plus a few ideas for what others in the industry should be considering right now. Come for the post-NAWLA insights, stay for the trading talk — and as always, walk away smarter and better looking.   Fastmarkets/CME SYP Futures webinar, November 18, 2025, link: www.fastmarkets.com/lumbertalk   Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

This week on The Lumber Word, the crew welcomes Patrick Teoli, IT specialist and owner of BluCirrus, to tackle all those tech questions that “just unplug it and plug it back in” won't solve. From system crashes to smarter setups, Patrick keeps it real about how tech meets the lumber world. Then, things heat up fast in the lumber market discussion — and it's a wild one. After a sharp CME selloff, fear is rippling through the supply chain. So where's the opportunity hiding? Gregg, Matt, Charles, and Ashley break it down with their takes on Hem-Fir convergence, mills that might pull the plug, and why if you're EFP'ing and sleeving through five people, you're probably missing the real play. Come for the information, stay for the laughs — and leave a little smarter (and maybe better looking).   Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com   Guest: Patrick Teoli BLUCIRRUS pteoli@blucirrus.com   Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com  

Matt, Gregg, Charles, and Ashley are back on track this week talking about what might be the calm before the next lumber storm. The crew breaks down the quiet market tone and asks the question everyone's thinking — are we moving from seasonal weakness into a period of strength? Charles thinks many dealers have been “good-dealed to death” over the past 60 days and simply don't need to buy, while Gregg takes the other side of that trade. Matt shares why he's feeling better heading into year-end, and the group circles around how the bug basis is quietly helping hedgers manage risk. They also highlight Hem-Fir's return as a deliverable species, adding another twist to the 2025 outlook. Plenty to unpack, lots of laughs, and as always — you'll come out smarter and better looking.     Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com   Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

Gregg, Charles, and Ashley kick things off with a deep dive into Southern Pine curtailments — and why they still haven't kicked in. The crew then runs through different scenarios for when Canadian mills might finally shut down more production. Gregg predicts we could see a 7-handle on lumber in Q1 of '26, while Charles brings up multi-family projects and who's short that business heading into 2026. Gregg also sparks a conversation about 2026 lumber contracts and some surprising insights that follow. The team rounds things out by highlighting undervalued items and how your inventory strategy might adapt to take advantage. Join the fun — and leave a little smarter.   Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com   Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com  

We jump right in by challenging each other on the ultimate lumber question — what would hurt the most people the most: prices going up or down? From there, it's a full-on debate about seasonality, market psychology, and whether this “underbought” market is actually overproduced… or maybe it's the other way around. As usual, we dropped plenty of gems on how each of us navigates the chaos to make money in today's market. Then the spotlight turned to SYP — is it really the species of choice when it comes to switching and optionality? This one's fast, fun, and a little confusing — in the best way possible. You'll have to listen to make it all make sense.   Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com   Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

Russ Taylor joins Matt, Gregg, and Ashley to unpack tariffs, production costs, and the week's price moves. Could lumber really hit $800 MBF in Q1? Tune in for sharp insights and insider tips every trader and builder will want to hear. Guest: Russ Taylor Russtaylor@russtaylorglobal.com www.russtaylorglobal.com Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com   Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

Dustin Jalbert from Fastmarkets is back with us this week, and the crew dives deep into the latest twists in the lumber market. Charles kicks things off with a rundown on Southern Pine, then we shift into production trends and what last month's housing completions mean for new home sales. Gregg and Dustin break down what they're seeing on the production side while Matt ties it all together with some sharp insights. We talk timing on potential curtailments, what the rest of the year could bring, and what Dustin's been hearing from both supply and demand. Smart money listens to The Lumber Word—and so should you.   Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com   Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com  

Charles is back from wrangling cattle, Matt's out in Texas, and Ashley and Gregg return from a wedding to dive into the latest lumber talk. Curtailment announcements gave the market a short-term jolt—does this signal a bottom, or are we still waiting? We break down what housing starts really mean, whether customers are sitting on healthy inventory or running on fumes, and what all this says about the months ahead. Plus, big news: The Lumber Word is taking the live version of the show behind a paywall. Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

Stinson Dean from Revol Building Solutions joins Matt, Gregg, and Ashley to break down the latest lumber market signals. Fresh off his feature in The Wall Street Journal, Stinson dives into supply and demand, what end users are doing, and how different scenarios could play out. The crew challenges each other with bold takes on where things may head next.   Guest: Stinson Dean stinson.dean@revol-ig.com https://www.revolbuilt.com/ X @LumberTrading Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com   Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com

The Lumber Word crew is back with special guest Rob Cross from StoneX, a veteran voice in the lumber industry. Gregg may have handed out the keys to the lumber castle today with the sheer amount of free insight he shared. Charles breaks down what's happening in the SYP market, while Matt dives into the cost stacks shaping price moves. Ashley takes a hard look at how greed and fear yanked this market from $700 to $520 in just one month. Rob brings the data with some fascinating lumber trading statistics—and if you stick around, you'll hear how the team is planning their next moves. Thanks for listening, and don't forget to tell a friend about The Lumber Word!     Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com Guest: Robin Cross: Robin.Cross@StoneX.com

In Episode #136 of The Lumber Word Podcast, Matt, Gregg, and Ashley take the lead while Charles tends to the cattle. This week's guest is none other than Brian Wesbury, Chief Economist at First Trust LP, and one of our most popular returning guests. Despite his busy schedule, which includes numerous media appearances, Brian always makes time to share his perspective on economics and lumber with our listeners. The episode kicks off with a brief discussion of the lumber market before diving into a wide-ranging conversation on the current economic situation in the U.S. Together, the team and Brian break down critical topics such as inflation, interest rates, the housing market in Washington D.C., stock performance, and what the future may look like for the broader economic landscape. As Brian shared his insights, the conversation provided a unique lens into how today's challenges and policies will shape tomorrow's opportunities. Listeners who have been following the podcast over the past few months will not be surprised by the recent selloff in lumber. The Lumber Word team has consistently prepared its audience for these market shifts, giving buyers and sellers across North America the foresight they need to navigate the industry with confidence. As always, The Lumber Word Podcast remains committed to delivering the most relevant and actionable insights into both lumber markets and the broader economic forces that impact them. With Brian Wesbury's expertise and the team's grounded industry perspective, Episode #136 is a must-listen for anyone who wants to stay ahead in the lumber and construction supply chain.   Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com Guest: Brian Wesbury: bwesbury@ftadvisors.com   First Trust: www.FTPLP.com     Advertisers: Fastmarkets Random Lengths djalbert@fastmarkets.com www.fastmarkets.com Layman's Lumber Guide www.laymansguide.com Matt@laymansguide.com

Matt, Charles, and Ashley run the desk while Gregg's in Canada. With light trading, mills sitting still, and buyers hesitant, the market's stuck in confusion. Housing starts look steady, but tariff noise has everyone frozen. Will SPF pick a direction, or will SYP and U.S. species finally wake up?   Show Contacts Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com  

This week, we're calling our shot on just how low September Lumber Futures could go—and why a cash market adjustment may be right behind it. If you're buying, selling, or negotiating in the next 30 days, you'll want to hear this. We're also joined by returning guest Chris Beard from John Burns Research & Consulting, with sharp insights on builders powering through price swings, the rise of build-to-rent, and SYP–SPF species swaps. Packed with market moves, builder intel, and trading tips you can use now.   Show Contacts Guest Chris Beard: chrisbeard@jbrec.com Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com  

Join hosts Matt, Gregg, Ashley, and Charles for Episode #133 of "The Lumber Word" Podcast, your weekly deep dive into the wild world of lumber markets. This episode unpacks the latest cash and futures trends, explores key inflection points amid truckers scrambling for orders, and mills in Canada and the US starting to look for real orders. We debate why raising prices doesn't always mean buyers bite, how CVD/AD duties are baked into costs, and the curious pull-up of species prices in a vacuum. Plus, insights on SYP's potential sell-off, Canadian production costs hitting $700 US in Chicago, CME basis adjustments, and testing channel bottoms. Is Hem-Fir the new CME basis that traders will look at since it can be delivered? We discuss potential curtailment announcement risks, deep discounts on truck orders from the secondary market, fading demand despite rate drop discussion, undervalued gems like 2x12 coastal and Green DF items, big boxes shifting to SYP premiums, seasonal weakness ahead, buyer/seller strategies, and finally selling those FJs at a premium. Whether you're buying, selling, or just timber-curious, this episode delivers the unvarnished truth on lumber's twists and turns! Show Contacts: Gregg Riley: Gregg@sitkainc.com Charles DeLaTorre: cdelatorre@ifpwood.com Matt Beymer: mattbeymer@hamptonlumber.com Ashley Boeckholt: ashley@sitkainc.com