23:35:03 EDT Thu 17 Oct 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFG
Shares Issued 79,340,852
Close 2024-05-06 C$ 107.00
Market Cap C$ 8,489,471,164
Recent Sedar Documents

Globe says West Fraser, others feeling cuts to renos

2024-05-06 06:44 ET - In the News

Also In the News (C-CFP) Canfor Corp
Also In the News (C-IFP) Interfor Corp

The Globe and Mail reports in its Monday edition that a slowdown in home repair and remodelling projects has weakened lumber markets, the latest setback for Canadian sawmills struggling financially with depressed lumber prices. The Globe's Brent Jang writes that lower-than-expected housing starts in Canada and the United States have also eroded lumber demand. On the supply side, lumber producers in British Columbia that have coped for years with decreased access to timber in the province will be facing even tighter constraints. In the summer of 2020, consumers stuck at home during the COVID-19 pandemic started a do-it-yourself boom. With household budgets increasingly reallocated to entertainment, travel, restaurants and sporting events over the past couple of years, that shift in spending has translated into challenging times for the lumber industry. A widely used two-by-four framing wall stud sold for about $4 at Canadian retail outlets last week, down from $10.50 two years ago. West Fraser Timber said elevated mortgage rates have tempered spending in the do-it-yourself market. Its share price has slipped 8 per cent over the past two years, while the stock prices of Canfor and Interfor have each tumbled 45 per cent.

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