Southern loggers are pushing wood production to a 13-year high. So why is the price of lumber up 288%?
Southern loggers are pushing wood production to a 13-year high. So why is the price of lumber up 288%? Fortune 2 hrs ago © Ty Wright/Bloomberg—Getty Images Absorbent lumber prices mean money, in a sense, does grow on trees. It's why loggers are racing to cut down more Southern yellow pines—a plentiful pine that dots the Deep South. On Tuesday, British Columbia-based lumber giant Canfor announced its plan to invest $160 million to build its first-ever sawmill in Louisiana. That comes after British Columbia-based West Fraser Timber announced in May it'll spend $150 million to expand fiv...
Source: msn.com