Canfor Reports Lower Third-Quarter Profitability Due to Lower Lumber Prices and Softening Demand

Canfor is one of the largest softwood lumber producers in the world, with about 7 billion board feet of production capacity in western Canada, southeastern United States, and Sweden. Homebuilding and remodeling are the main uses of softwood lumber in North America, although Canfor does sell significant volume in Europe and Asia, with both making up roughly 30% of sales in recent years. As price-takers, Canfor and its peers see dramatic profit variations depending on the health of housing markets and overall economic conditions.