I see lumber futures testing US$1,500 today: Raymond James' Daryl Swetlishoff
Canfor Corp. says it is curtailing production capacity at its Canadian sawmills beginning Monday as a result of extreme wildfire conditions in Western Canada.
The Vancouver-based lumber producer says about 115 million board feet of capacity will be reduced during the third quarter due to significant supply chain challenges and a transportation backlog.
Canfor says the wildfires are significantly impacting its ability to transport product to market.
Executive vice-president Stephen Mackie says it is developing plans to minimize impacts to employees and contractors.
Canfor says it is working closely with the provincial wildfire services and governments to support a safe response to the very dynamic wildfire conditions that are raging in British Columbia, Saskatchewan and Manitoba.
Canfor produces primarily softwood lumber with interests in B.C., Alberta, North and South Carolina, Alabama, Georgia, Mississippi, Arkansas and Louisiana, as well as in Sweden.