Forisk Consulting

𝙁𝙤𝙧𝙞𝙨𝙠'𝙨 𝙒𝙤𝙤𝙙 𝙁𝙞𝙗𝙚𝙧 𝙍𝙚𝙫𝙞𝙚𝙬 𝙝𝙞𝙜𝙝𝙡𝙞𝙜𝙝𝙩𝙨 𝙘𝙤𝙣𝙩𝙞𝙣𝙪𝙚𝙙 𝙨𝙤𝙛𝙩𝙣𝙚𝙨𝙨 𝙞𝙣 𝙉𝙤𝙧𝙩𝙝 𝘼𝙢𝙚𝙧𝙞𝙘𝙖𝙣 𝙛𝙞𝙗𝙚𝙧 𝙢𝙖𝙧𝙠𝙚𝙩𝙨 𝙙𝙪𝙧𝙞𝙣𝙜 𝗤𝟮 𝟮𝟬𝟮𝟲

U.S. weighted average roundwood and chip prices fell 3% from the previous quarter and 11% year-over-year, driven by ample fiber supply, mill closures, and weaker demand in several regions. In Canada, prices increased 3% for the quarter and remained slightly above year-ago levels.

The report also examines the impacts of rising fuel costs, wildfire-driven fiber supply shifts in the U.S. South, slowing chip imports into British Columbia, and broader geopolitical uncertainty affecting wood fiber markets across North America.

Read the full release here:

forisk.com

𝗙𝗼𝗿𝗶𝘀𝗸 𝗕𝗹𝗼𝗴: 𝗣𝗹𝗮𝗻𝘁𝗶𝗻𝗴 𝗗𝗲𝗻𝘀𝗶𝘁𝘆 𝗮𝗻𝗱 𝗣𝘂𝗹𝗽𝘄𝗼𝗼𝗱 𝗦𝘂𝗽𝗽𝗹𝘆

Forisk's latest blog from Shawn Baker examines how planting density trends in the U.S. South could affect future pulpwood supply. Data from Forisk's southern silvculture surveys shows landowners planted 90 fewer treeds per acre in 2025 than our intial 2012 survey. These surveys provide a leading indicator that stem counts on thinning-age stands will likely be declining for another decade (at least!).

Read the full post here:

Planting Density and Pulpwood Supply - Forisk Poor pulpwood markets are causing landowners to lower planting density. We document this trend over the last twenty years.

𝗪𝗵𝗮𝘁 𝗰𝗮𝗻 𝗵𝗶𝘀𝘁𝗼𝗿𝘆 𝘁𝗲𝗮𝗰𝗵 𝘂𝘀 𝗮𝗯𝗼𝘂𝘁 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗶𝗻 𝘁𝗶𝗺𝗯𝗲𝗿𝗹𝗮𝗻𝗱𝘀?

The forest industry has experienced significant changes over the past several decades, but many of the key drivers of successful timberland investments remain the same. Understanding past market cycles, ownership shifts, and industry trends can help investors and decision-makers better navigate future opportunities and risks.

In this latest Forisk blog, Brooks Mendell explores why historical perspective remains a valuable tool for timberland and forest industry investors.

Read more:

Learning from History to Invest in Timberlands and the Forest Industry - Forisk Forecasting requires arbitrary choices. We can learn from history and backtesting to avoid "dumb" ideas and invest in better timber markets.

𝗪𝗵𝗮𝘁 𝗱𝗿𝗶𝘃𝗲𝘀 𝘁𝗶𝗺𝗯𝗲𝗿𝗹𝗮𝗻𝗱 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗿𝗲𝘁𝘂𝗿𝗻𝘀?

For decades, investors have pointed to biological growth, timber prices, and land appreciation as the key drivers of timberland performance. But how has the relative importance of those factors changed over the past 30 years?

In this latest Forisk blog, we examine timberland returns from 1995–2025 and compare the drivers behind performance across different market environments. The analysis highlights how shifts in timber markets, land values, and biological growth have influenced returns—and what that may mean for investors going forward.

Read the full blog here:

forisk.com

𝗙𝗼𝗿𝗶𝘀𝗸 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗹𝗲𝗮𝘀𝗲: 𝗧𝗼𝗽 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝗻 𝗢𝗦𝗕 𝗣𝗿𝗼𝗱𝘂𝗰𝗲𝗿𝘀 𝗜𝗻𝗰𝗹𝘂𝗱𝗲 #𝟭 𝗪𝗲𝘀𝘁 𝗙𝗿𝗮𝘀𝗲𝗿 𝗮𝗻𝗱 #𝟮 𝗟𝗼𝘂𝗶𝘀𝗶𝗮𝗻𝗮-𝗣𝗮𝗰𝗶𝗳𝗶𝗰

Forisk’s latest analysis of the OSB sector highlights the top producers shaping the North American market in 2025.

Key takeaways:
• Nine companies encompass the entire North American OSB sector
• U.S. producers account for 64% of total North American production
• West Fraser remains the largest OSB producer in both the U.S. and North America

The rankings are based on data from Forisk’s 𝘕𝘰𝘳𝘵𝘩 𝘈𝘮𝘦𝘳𝘪𝘤𝘢𝘯 𝘔𝘪𝘭𝘭 𝘊𝘢𝘱𝘢𝘤𝘪𝘵𝘺 𝘋𝘢𝘵𝘢𝘣𝘢𝘴𝘦, which tracks over 2,350 wood-using facilities across North America.

Read the full release here:

forisk.com

𝗧𝗼𝗽 𝟮𝟬𝟮𝟱 𝗢𝗦𝗕 𝗣𝗿𝗼𝗱𝘂𝗰𝗲𝗿𝘀 𝗶𝗻 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 🪵

Forisk’s latest analysis of the OSB sector highlights the top producers shaping the North American market in 2025.

Key takeaways:
• Nine companies encompass the entire North American OSB sector
• U.S. producers account for 64% of total North American production
• West Fraser remains the largest OSB producer in both the U.S. and North America

The rankings are based on data from Forisk’s 𝘕𝘰𝘳𝘵𝘩 𝘈𝘮𝘦𝘳𝘪𝘤𝘢𝘯 𝘔𝘪𝘭𝘭 𝘊𝘢𝘱𝘢𝘤𝘪𝘵𝘺 𝘋𝘢𝘵𝘢𝘣𝘢𝘴𝘦, which tracks over 2,350 wood-using facilities across North America.

Read more here:

Top 2025 OSB Producers in North America - Forisk Nine North American companies encompass the entire OSB sector, manufacturing 26.5 BSF (3/8”) in 2025. Seven OSB firms operate in the United States.

The 2026 Q2 edition of the 𝙁𝙤𝙧𝙞𝙨𝙠 𝙉𝙚𝙬𝙨 is hot off the press! This quarter's edition features:

• Select findings from the Q2 FRQ
• Featured research in the Q2 FRQ
• Research highlighted on Forisk's Blog
• Upcoming events
• Forisk in the News

Read the full newsletter here:

forisk.com

𝗨.𝗦. 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗦𝘁𝗮𝗿𝘁𝘀 𝗢𝘂𝘁𝗹𝗼𝗼𝗸: 𝗤𝟮 𝟮𝟬𝟮𝟲 𝗨𝗽𝗱𝗮𝘁𝗲

Forisk published the Q2 edition of the 𝘍𝘰𝘳𝘪𝘴𝘬 𝘙𝘦𝘴𝘦𝘢𝘳𝘤𝘩 𝘘𝘶𝘢𝘳𝘵𝘦𝘳𝘭𝘺 today, which includes our updated U.S. housing starts outlook. Forisk’s latest outlook points to continued near-term pressure on U.S. housing activity as elevated mortgage rates and economic uncertainty weigh on new construction. Forisk projects a slight decline (1.5%) in housing starts in 2026 followed by a recovery to 1.37 million units in 2027.

Read the full update from Shawn Baker here:

U.S. Housing Starts Outlook, Q2 2026 Update - Forisk Forisk's Q2 2026 Housing Outlook anticipates little housing growth through 2027 and reviews Q1 housing activity relative to year-end actuals.

𝗪𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝗪𝗮𝘀𝗵𝗶𝗻𝗴𝘁𝗼𝗻’𝘀 𝗧𝘆𝗽𝗲 𝗡𝗽 𝗿𝘂𝗹𝗲 𝗺𝗲𝗮𝗻 𝗳𝗼𝗿 𝘁𝗶𝗺𝗯𝗲𝗿 𝘀𝘂𝗽𝗽𝗹𝘆? 🌲

Forisk’s latest blog post from Amanda Lang examines how expanded buffers on non-fish-bearing streams could reduce the harvestable timber base in Washington.

The findings point to meaningful impacts on available timber supply, with implications for landowners, mills, and regional wood fiber markets.

🔗 Read more:

Impacts of the Washington State Np Rule on Harvestable Timber - Forisk An economic assessment performed by the University of Washington found that impacts from the Np rule ranged from a 1% loss to 12% loss in harvestable volume in counties in western Washington.

𝗟𝘂𝗺𝗯𝗲𝗿 𝗰𝗮𝗽𝗮𝗰𝗶𝘁𝘆 𝗶𝘀 𝘀𝗵𝗶𝗳𝘁𝗶𝗻𝗴—𝗮𝗻𝗱 𝗰𝗮𝗽𝗶𝘁𝗮𝗹 𝗶𝘀 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴.

A new Forisk analysis from Brooks Mendell highlights a continued decline in lumber capacity across Western Canada—driven by factors like fiber constraints, policy pressures, and mill closures.

At the same time, investment momentum remains strong in the U.S. Pacific Northwest, where operators are positioning to capture supply gaps and evolving market demand.

Key takeaway: As Canadian capacity contracts, capital is reallocating south—reinforcing the Pacific Northwest’s role in North American lumber markets.

These regional shifts matter for timber supply, pricing, and long-term investment strategy.

Read more:

Declining Lumber Capacity in Western Canada Supports Continued Forest Industry Capital Investments in the U.S. Pacific Northwest - Forisk Changes in Western Canada's forest industry supported capital investments into mills and timberlands in the U.S. Pacific Northwest.