Spreadsheet: monika_causholli__28193__Price Forecast
Sheet: Lumber-OSB

Lumber/OSB Forecast |  | $
Firm/Analyst | Units | 2000 | 1Q01 | 2Q01 | 3Q01 | 4Q01 | 2001E | 1Q02 | 2Q02 | 3Q02 | 4Q02 | 2002E | 2003E |  | Date |  | Notes
CIBC Securities (lumber) | mbf | 255 |  |  |  |  | 260 |  |  |  |  | 265 |  |  | 2001-08-13 00:00:00
CIBC Securities (OSB) | msf | 205 |  |  |  |  | 170 |  |  |  |  | 160 |  |  | 2001-08-13 00:00:00
CS First Boston - Lumber | 000 bdft | 317 |  | 390 | 327 | 297 | 326q | 297 |  |  |  | 311q |  |  | 2001-10-01 00:00:00 |  | 2001E decreased from 338 to 326.  2002E decreased from 348 to 311. |  |  |  |  |  |  |  |  | *Based on CFCB estimates, [NAME], [NAME].
CS First Boston | 000 sqft | 267 |  |  |  |  | 281 |  |  |  |  | 274 |  |  | 2001-08-23 00:00:00
CS First Boston | 000 sqft | 203 |  |  |  |  | 179 |  |  |  |  | 197 |  |  | 2001-08-23 00:00:00
Deutsche Bank - Framing |  | 327 | 283 | 365 | 330 | 310 | 322 | 300 | 330 | 350 | 325 | 326q | 345 |  | 2001-09-25 00:00:00 |  | 2002E increased from 320 to 326
Deutsche Bank - Panel |  | 285 | 229 | 289 | 277 | 255 | 263 | 250 | 260 | 280 | 235 | 256q | 280 |  | 2001-09-25 00:00:00 |  | 2002E decreased from 280 to 256
Deutsche Bank - OSB |  | 222 | 132 | 188 | 185 | 145 | 163q | 145 | 170 | 195 | 150 | 165q | 185 |  | 2001-09-25 00:00:00 |  | 2001E increased from 156 to 163.  2002E decreased from 185 to 165
Deutsche Bank - Plywood 15/32" |  | 269 | 240 | 297 | 275 | 260 | 268q | 260 | 280 | 295 | 260 | 274q | 285 |  | 2001-09-25 00:00:00 |  | 2001E decreased from 271 to 268. 2002E decreased from 285 to 274
First Associate Investment Inc.
JP Morgan
Lehman Brothers - Lumber | 000 bdft | 324 |  |  |  |  | 329 |  |  |  |  | 350 | 360 |  | 2001-07-16 00:00:00
Lehman Brothers - OSB | 000 sqft | 208 |  |  |  |  | 169 |  |  |  |  | 198 | 238 |  | 2001-07-16 00:00:00
Lehman Brothers - Plywood | 1 sqft | 264 |  |  |  |  | 275 |  |  |  |  | 285 | 298 |  | 2001-07-16 00:00:00
[NAME]
[NAME]
Merrill Lynch - North Can | mmbf | 258 |  |  | 290 | 220 | [NAME] | 230 | 250 | 260 | 250 | [NAME] |  |  | 2001-09-25 00:00:00 |  | 2001E decreased from 261 to 250. 2002E decreased from 270 to 250
Merrill Lynch - US South | mmbf | 340 |  |  |  |  | 331 |  |  |  |  | 349 |  |  | 2001-08-21 00:00:00
Merrill Lynch - Plywood 3/8" basis | mmsf | 308 |  |  |  |  | 294 |  |  |  |  | 300 |  |  | 2001-08-21 00:00:00
Merill Lynch - Structural Panels |  |  |  |  | 180 | 150 | 163 | 150 | 170 | 160 | 160 | 160q |  |  | 2001-09-25 00:00:00 |  | 2002E decreased from 178 to 160.
Morgan Stanley Dean Witter - Lumber | $/000 |  |  |  |  |  | 313 |  |  |  |  | 360 | 414 |  | 2001-05-04 00:00:00
Morgan Stanley Dean Witter - Plywood | $/000 |  |  |  |  |  | 267 |  |  |  |  | 307 | 353 |  | 2001-05-04 00:00:00
Morgan Stanley Dean Witter - OSB | $/000 |  |  |  |  |  | 146 |  |  |  |  | 108 | 207 |  | 2001-05-04 00:00:00
National Bank of Canada - SPF 2 x4 |  | 223 |  | 296 | 279 |  | 265 |  |  |  |  | 275
National Bank of Canada - OSB |  | 171 |  | 189 | 159 |  | 165 |  |  |  |  | 145
[NAME] | mbf |  |  |  |  |  | 261 |  |  |  |  | 270 |  |  | 2001-08-23 00:00:00
[NAME] | msf |  |  |  |  |  | 278 |  |  |  |  | 280 |  |  | 2001-08-23 00:00:00
Randon Lengths- OSB | msf |  |  |  |  |  | 163 |  |  |  |  | 178 |  |  | 2001-08-23 00:00:00
Salman Partners | mmbf | 280 |  |  |  |  | 290 |  |  |  |  |  |  |  | 2001-08-01 00:00:00
Salomon Smith Barney - RL Lumber 1 | mbf | 323 |  |  |  |  | 337 |  |  |  |  | 364 | 368 |  | 2001-05-29 00:00:00
Salomon Smith Barney - RLPanels 2 | msf | 281 |  |  |  |  | 267 |  |  |  |  | 280 | 291 |  | 2001-05-29 00:00:00
Salomon Smith Barney - OSB | 7/16" | 281 |  |  |  |  | nc |  |  |  |  | 204 | 199 |  | 2001-05-29 00:00:00
Scotiabank
TD Securities