The dimensional lumber market has seen slightly declining prices since last month. We were experiencing a much higher market than we typically see for the time of year, due to the trade agreement not being settled. However, the last couple of weeks, market prices were much too high to maintain with the demand level being what it currently is. The snowstorm which hit the Midwest and Northeast last week only assisted in slowing demand. If mills are looking to cover the cost of a potential retroactive tariff, it won't be happening in March.
The exception to this seems to be eastern 2x6 studs, which have risen in pricing. Western lumber is following the rest of the dimensional market's downward trend.
The panel market had pretty much followed the dimensional market over the past few weeks and had shown weakness as prices have also come off a bit.
This has become a game of wait and see - as spring officially arrives we hope the weather will soon change and raise market demand, as well as hoping that the lumber trade agreement will move towards a resolution as swiftly as possible.