Spreadsheet: monika_causholli__28281__Price Forecast
Sheet: Lumber-OSB

Lumber/OSB Forecast |  |  | $
Firm/Analyst | Units | Current | 2000 | 1Q01 | 2Q01 | 3Q01 | 4Q01 | 2001E | 1Q02 | 2Q02 | 3Q02 | 4Q02 | 2002E | 1Q03 | 2Q03 | 3Q03 | 4Q03 | 2003E | 2004E |  | Date |  | Notes
[NAME] | $/Mfbm |  | 261 |  |  |  |  | 233 |  |  |  |  | 220 |  |  |  |  |  |  |  | 2001-11-01 00:00:00
[NAME] plywood | $/000sf |  | 309 |  |  |  |  | 287 |  |  |  |  | 275 |  |  |  |  |  |  |  | 2001-11-01 00:00:00
[NAME]" | $/000sf |  | 201 |  |  |  |  | 160 |  |  |  |  | 144 |  |  |  |  |  |  |  | 2001-11-01 00:00:00
CIBC Securities (lumber) | mbf | 210 | 255 |  |  |  |  | 260 |  |  |  |  | 280 |  |  |  |  |  |  |  | 2001-10-26 00:00:00 |  | 2002E increased from 265 to 280.
CIBC Securities (OSB) | msf | 138 | 205 |  |  |  |  | 170 |  |  |  |  | 160 |  |  |  |  |  |  |  | 2001-10-26 00:00:00
CS First Boston - Lumber | 000 bdft | 270 | 317 |  | 390 | 327 | 270q | 319q | 270q |  |  |  | 284q |  |  |  |  |  |  |  | 2001-10-01 00:00:00 |  | 4Q 2001 & 1Q 2002 decreased from 297 to 270. 2001A decreased from 326 to 319.  2002A decreased from 311 to 284. |  |  |  |  |  |  |  |  | *Based on CFCB estimates, [NAME], [NAME].
CS First Boston | 000 sqft | 251 | 267 |  | 319 | 278 | 245 | 272q | 241 |  |  |  | 251q |  |  |  |  |  |  |  | 2001-08-23 00:00:00 |  | 2001A decreased from 281 to 272. 2002A decreased from 274 to 251.
CS First Boston | 000 sqft | 140 | 203 |  | 207 | 181 | 133 | 164q | 130 |  |  |  | 145q |  |  |  |  |  |  |  | 2001-08-23 00:00:00 |  | 2001A decreased from 179 to 164. 2002A decreased from 179 to 145.
Deutsche Bank - Framing |  | 289 | 327 | 283 | 365 | 330 | 310 | 322 | 300 | 330 | 350 | 325 | 326 |  |  |  |  | 345 |  |  | 2001-11-19 00:00:00
Deutsche Bank - Panel |  | 236 | 285 | 229 | 289 | 277 | 255 | 263 | 250 | 260 | 280 | 235 | 256 |  |  |  |  | 280 |  |  | 2001-11-19 00:00:00
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
Equity Research Associates - OSB 7/16" |  | 150p | 170 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2001-11-19 00:00:00 |  | Current price increased from 142 to 150.
Equity Research Associates - SPF 2x4 |  | 222q | 205 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2001-11-19 00:00:00 |  | Current price decreased from 225 to 222.
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 | 231 | 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 | 253 | 308 |  | 299 | 280 |  | 294 |  |  |  |  | 300 |  |  |  |  |  |  |  | 2001-11-15 00:00:00
Merill Lynch - Structural Panels | mbf |  |  |  |  | 180 | 150 | 163 | 150 | 170 | 160 | 160 | 160q |  |  |  |  |  |  |  | 2001-09-25 00:00:00 |  | 2002E decreased from 178 to 160.
Merill Lynch - W. SPF | mbf |  |  |  | 296 | 290 | 220 | 250 | 230 | 250 | 260 | 250 | 248 | 280 | 330 | 310 | 300 | 305 | 328 |  | 2001-11-15 00:00:00
Merill Lynch - E. SPF | msf |  |  |  | 374 | 340 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2001-11-15 00:00:00
Plywood - West | msf |  |  |  |  |  | 290 | 294 | 280 | 300 | 300 | 295 | 294 | 305 | 320 | 320 | 310 | 314 | 323 |  | 2001-10-15 00:00:00
OSB | msf | 143 |  |  |  |  | 150 | 163 | 150 | 170 | 160 | 160 | 160 | 170 | 190 | 185 | 180 | 181 | 208 |  | 2001-10-15 00:00:00
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 - W SPF 2 x4 |  | 226 | 257 |  | 296 | 279 |  | 265 |  |  |  |  | 275 |  |  |  |  |  |  |  | 2001-10-15 00:00:00
National Bank of Canada - E. SPF 2 x 4 G.L. |  | 310 | 350 |  |  |  |  | 355 |  |  |  |  | 365 |  |  |  |  |  |  |  | 2001-10-15 00:00:00
National Bank of Canada - OSB | 7/16", NC | 142 | 206 |  | 189 | 159 |  | 165 |  |  |  |  | 145 |  |  |  |  |  |  |  | 2001-10-15 00:00:00
National Bank of Canada - MDF | 3/4", West | 370 | 358 |  |  |  |  | 360 |  |  |  |  | 340 |  |  |  |  |  |  |  | 2001-10-15 00:00:00
[NAME] | mbf | 275 | 271 |  |  |  |  | 261 |  |  |  |  | 270 |  |  |  |  |  |  |  | 2001-10-29 00:00:00 |  | Last week's price was $270
[NAME] | msf | 226 | 248 |  |  |  |  | 278 |  |  |  |  | 280 |  |  |  |  |  |  |  | 2001-10-29 00:00:00 |  | Last week's price was $229
Randon Lengths- OSB | msf | 138 | 165 |  |  |  |  | 163 |  |  |  |  | 178 |  |  |  |  |  |  |  | 2001-10-29 00:00:00 |  | Last week's price was $140
Salman Partners - SPF Lumber | mfbm |  | 280 |  |  |  |  | 290 |  |  |  |  | 270 |  |  |  |  |  |  |  | 2001-11-05 00:00:00
Salman Partners - Plywood | msf |  |  |  |  |  |  |  |  |  |  |  | 388CDN |  |  |  |  |  |  |  | 2001-11-05 00:00:00
Salomon Smith Barney - RL Lumber 1 | mbf |  | 323 |  |  |  |  | 317 |  |  |  |  | 339 |  |  |  |  | 406 | 394 |  | 2001-10-10 00:00:00
Salomon Smith Barney - RLPanels 2 | msf |  | 282 |  |  |  |  | 256 |  |  |  |  | 269 |  |  |  |  | 342 | 352 |  | 2001-10-10 00:00:00
Salomon Smith Barney - OSB | 7/16" |  | 206 |  |  |  |  | 162 |  |  |  |  | 173 |  |  |  |  | 226 | 235 |  | 2001-10-10 00:00:00
Scotiabank
TD Securities
UBS Warburg - Lumber | mbf | 289 |  |  |  | 323 | 280p | 270 |  |  |  |  |  |  |  |  |  |  |  |  | 2001-11-12 00:00:00 |  | Lumber price remained unchanged.  4Q average up to 28o from 275.
UBS Warburg - Plywood | mbf | 240p |  |  |  | 265 | 238p | 237 |  |  |  |  |  |  |  |  |  |  |  |  | 2001-11-12 00:00:00
UBS Warburg - OSB | msqf | 142p |  |  |  | 179 | 142 | 140 |  |  |  |  |  |  |  |  |  |  |  |  | 2001-11-12 00:00:00 |  | OSB rose $2 this week