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North American Lumber Prices: Madison's Index Falls 7% to $459 as Timber Markets Diverge – October 30, 2026
North American lumber prices weakened sharply during the week ended October 30, 2026, with Madison's Lumber Prices Index falling 7% to US$459 per thousand board feet. Weak housing construction and cautious purchasing continued to pressure finished lumber, while standing timber prices varied considerably across U.S. regions.
Market at a Glance
- Lumber Index: ▼ 7% to US$459/mfbm, down $36 week over week.
- Monthly comparison: ▼ 8%, or $40/mfbm.
- U.S. housing starts: ▼ 5.2% in September to an annualized 1.221 million units.
- Southern pine sawtimber: Approximately $24/ton in Q3, up 2% quarter over quarter.
- Southern pine pulpwood: Just over $5/ton, declining for a seventh consecutive quarter.
- Oregon Douglas-fir: Winning bid of approximately $588/MBF in an October 23 state timber sale.
SEATTLE (Scrap Monster): North American lumber prices entered November under renewed pressure as seasonal weakness and cautious buying continued to weigh on demand, according to market reporting from Madison's Lumber Reporter.
Madison's Lumber Prices Index ended the week of October 30 at US$459 per thousand board feet, down $36, or approximately 7%, from the previous week's $495.
Compared with one month earlier, when the index stood at $499, the benchmark was down $40, or approximately 8%.
ScrapMonster Edge: Falling Lumber Prices Do Not Affect Every Timber Market Equally
Madison's Lumber Prices Index fell $36/mfbm in a single week, accounting for most of its $40 decline over the latest month-long comparison.
However, finished lumber prices and standing timber values reflect different parts of the supply chain. Southern pine pulpwood remains particularly weak, while sawtimber and selected hardwood markets continue to show substantial regional price differences.
The distinction matters: A decline in the finished lumber index does not translate directly into an equivalent reduction in stumpage prices or logging revenue.
Industry takeaway: Sawmills, timber owners and wood-product buyers should evaluate finished lumber benchmarks alongside local mill demand, species, transportation costs and available processing capacity. National price movements provide direction, but regional purchasing conditions determine actual timber values.
Madison's Lumber Index Falls 7% in Final October Week
The benchmark's decline reflected continued caution among wholesalers and construction-material buyers, many of whom maintained just-in-time purchasing rather than building inventories.
Seasonal demand weakness added to pressure across the softwood lumber market.
The October 30 index reading of US$459/mfbm compared with US$495 the previous week and US$499 one month earlier.
U.S. Housing Starts Decline 5.2% in September
Weak housing construction remains an important demand concern for lumber producers.
U.S. housing starts declined 5.2% month over month and 7.4% year over year in September, reaching a seasonally adjusted annual rate of 1.221 million units, according to the U.S. Census Bureau.
Single-family housing starts fell to an annualized 859,000 units, while single-family building permits decreased 4% from August to approximately 845,000.
Higher financing costs, affordability challenges and cautious homebuilding activity continued to limit demand for construction materials.
Southern Pine Pulpwood Records Seventh Consecutive Quarterly Decline
Southern U.S. standing timber prices showed mixed performance during the third quarter of 2026.
Pine sawtimber averaged just under $24 per ton, increasing 2% from the previous quarter but remaining 5% below the corresponding period in 2025.
Pine chip-n-saw averaged approximately $16.50 per ton, down 8% year over year.
Pine pulpwood remained the weakest category, averaging just over $5 per ton. Prices declined for a seventh consecutive quarter, reflecting continued weakness in the market for smaller-diameter timber.
Regional differences remained substantial. Pine sawtimber prices ranged from approximately $16–$19 per ton in parts of Tennessee and Virginia to more than $30 per ton in areas of Florida and western North Carolina.
Oregon Douglas-fir Sale Shows Continued Buyer Interest
In the Pacific Northwest, Oregon Department of Forestry timber-sale results indicated continued bidding interest in Douglas-fir.
At the October 23 Forest Grove district sale, Stimson Lumber submitted the winning bid, with Douglas-fir valued at approximately $587.61 per thousand board feet.
The transaction provides a specific example of buyer activity but should not be interpreted as an average price for the broader Pacific Northwest timber market.
Pennsylvania Hardwood Prices Vary by Species and Region
Hardwood stumpage markets also showed considerable regional differences, according to Penn State Extension's second-quarter 2026 Timber Market Report.
Average white oak stumpage prices ranged from approximately $490/MBF in northeastern Pennsylvania to $698/MBF in the southeast.
Northern red oak averaged approximately $472–$587/MBF across those regions.
The figures illustrate how species, quality, local demand and timber-sale characteristics influence standing timber valuations.
Lumber and Timber Market Outlook
North American lumber markets entered November facing soft construction demand and continued inventory caution.
However, the regional timber figures indicate that pricing conditions remain uneven, with Southern pulpwood particularly weak and selected sawtimber and hardwood markets retaining stronger localized values.
For market participants, the next indicators to monitor include weekly lumber prices, housing starts, sawmill activity and local timber purchasing conditions.
Pricing methodology: Madison's Lumber Prices Index is a finished-lumber composite quoted in U.S. dollars per thousand board feet. Southern timber prices are regional stumpage estimates in dollars per ton. Pennsylvania hardwood prices use dollars per thousand board feet under the International 1/4-inch log rule. Oregon figures refer to an individual state timber-sale bid. These measures are not directly interchangeable.
Courtesy: RFD-TV.
Market sources: Madison's Lumber Reporter, Southern Ag Today / TimberMart-South, Oregon Department of Forestry and Penn State Extension.