Lumber is among the more essential commodities for daily life, literally building homes, offices, restaurants, stores, etc. And when lumber prices and demand are down - as they currently are - it's a clear signal that something is missing in the broader economy (and certainly in the freight market).
On the latest edition of InTek Freight & Logistics: The Podcast, Sherwood Lumber COO Kyle Little joins us to discuss lumber as an economic indicator - and what it's currently indicating. He discusses its price fluctuations during and post-COVID and how it's connected to housing (hint: it's not just new construction). We find out that lumber and freight have trod a similar path and are both looking to bounce back - even if not as high as the heights of a few years ago.
One way they could: if interest rates begin to see cuts, something the Fed is discussing as a more distinct and near-term possibility now - as compared to when we recorded our previous podcast with Dr. Jason Miller a few weeks ago. Kyle also discusses how Sherwood moves its lumber, and why an East Coast port strike could especially impact its supply chain (but why he's less worried about a Canadian rail strike).
Find more from Kyle on Twitter/X @lumberlittle as well as through regular appearances on CNBC. And learn more about Sherwood Lumber at www.sherwoodlumber.com.
Watch this episode to see Kyle's interview with hosts Kevin Baxter and Shelli Austin on YouTube, where you can also check out our playlist for our 38 previous podcasts.
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