The work-from-home trend that drove lumber prices to record levels and helped producer
The
"Pre-pandemic, for many people, their home was primarily for shelter, for sleeping and eating. Now the home is becoming an office, a school, an entertainment area and a recreation space, in addition to sleeping and eating," Kayne said on a conference call Friday.
"We see evidence of this in our strong R&R (repair and remodel) and DIY (do-it-yourself) demand and believe it will continue to evolve and increase in importance. We're also seeing a shift from urban living to suburban and rural living as people buy more spacious single-family homes and have greater flexibility to work from home."
He added low interest rates, aging house inventories and strong
Canfor noted the North American price for Western SPF (spruce, pine and fir) 2x4s reached an all-time high of
The forest products company reported Thursday a profit of
Adjusted net income increased to
Canfor was expected to report
In a report, RBC analyst
The company noted total third-quarter lumber shipments reached 1.37 billion board feet, up 19 per cent over the second quarter.
About 44 per cent of Canfor's production is generated in B.C., four per cent in
Kayne said the price volatility in
This report by
Companies in this story: (TSX:CFP)
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