According to Western Wood Products Association's 2003 lumber forecast, demand for U.S. lumber to reach record levels in 2003. The Portland-based trade association said that U.S. lumber consumption should reach an all-time high of 54.7 billion board feet in 2003, eclipsing the previous mark of 54.3 billion board feet set in 1999. Demand in 2002 is expected to match the 54.3 billion board foot mark. Low interest rates and strong refinancing activity will result for most of the lumber demand increases next year. Lumber usage in repair and remodeling is expected to increase to 17.3 billion board feet. New-home construction will consume 21.2 billion board feet next year. Low interest rates have helped the U.S. housing and remodeling markets stay healthy and expand demand for lumber products, said WWPA President. Moreover, western production will be down at 16.58 billion board feet and Southern production will be down slightly at 16.47 billion board feet. Lumber imports are forecast to rise more than 500 million board feet in 2003. WWPA predicts Canadian shipments will grow 1.6 percent to 18.7 billion board feet. Non-Canadian imports are expected to be up 15.3 percent to 2 billion board feet. WWPA represents lumber manufacturers in the 12 Western states and Alaska. The Association also delivers quality standards and technical support services to the industry.
