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February 1994, Vol. 117, No. 2

Factors affecting the international softwood lumber market, 1987-93

Marcus Shull and Lisa Zager
Economists, Division of International Prices, Bureau of Labor Statistics

Nontraditional factors largely overshadowed traditional ones affecting international softwood lumber prices during the last quarter of 1992 and the first quarter of 1993. This article illustrates how the fluctuations in softwood lumber prices that occurred during this period were chiefly a response to industry speculation arising from the influence of nontraditional factors.

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