Ashley, Gregg, Matt, and Charles are joined by Brian Wesbury, Chief Economist at First Trust Advisors, a bestselling author, and one of the most sought-after voices in macroeconomics today. When markets get noisy, Brian’s the guy cutting through it with data and conviction. The crew dives into the macro forces shaping lumber—from government spending and the “K-shaped” economy to housing completions, freight spikes, and regional demand shifts. They break down why affordability is still broken, what’s driving trucking chaos, and whether strong Southern demand can carry the market forward. Plus—how AI, migration trends, and policy decisions could reshape housing, labor, and the broader economy. If you want to understand where lumber demand is heading (and why), this one delivers.

Timeline

00:00 – Brian Wesbury joins + macro setup 03:30 – Taxes, migration & policy shifts 08:30 – Government spending vs affordability 14:00 – Housing completions & demand outlook 16:00 – Freight spikes & supply chain issues 18:30 – Southern vs Northern demand 24:00 – The “K-shaped” economy explained 30:00 – Growth, incentives & middle class 41:00 – AI, jobs & future risks

Guest

Brian S. Wesbury

Chief Economist / First Trust

www.ftportfolios.com

Advertiser

Fastmarkets RISI

Dustin Jalbert

Senior Economist Wood Products

djalbert@fastmarkets.com

www.fastmarkets.com

Show Contacts:

Gregg Riley: Gregg@sitkainc.com

Charles DeLaTorre: cdelatorre@ifpwood.com

Matt Beymer: mattbeymer@hamptonlumber.com

Ashley Boeckholt: ashley@sitkainc.com

Holy Week edition with a major announcement—The Lumber Word is going subscription for people wanting to listen first! The crew breaks down what that means, why timing matters in a 24–48-hour data market, and then dives headfirst into one of the wildest setups we’ve seen: freight chaos, pine vs. spruce divergence, and a market that might still have legs… or be closer to the edge than you think.

0:00 – Holy Week kickoff + big shift to subscriber early access (no ads, faster intel)

4:00 – Russ Taylor debate, AD/CVD reality, and why nothing’s changing soon

9:00 – Freight explosion: rail surcharges + trucking volatility crushing margins

13:00 – Back-to-back trading vs. real value in a chaotic logistics market

14:00 – Pine vs. Spruce: why SYP ripped and SPF lagged hard

20:00 – Contracts vs. spot market—are they distorting price discovery?

29:00 – Freight as the real driver of the pine rally (canary in the coal mine)

33:00 – Bull market or head fake? Supply cuts vs. pipeline restock debate

35:00 – “Seller arrogance” = warning sign of a potential top

40:00 – Buyers scrambling to rebuild inventory + hot items emerging fast

Freight is the hidden force, Pine led the charge, and now the market’s walking a tightrope between a continued grind higher… or the early signs of a summer reset.

Advertiser

Fastmarkets RISI

Dustin Jalbert

Senior Economist Wood Products

djalbert@fastmarkets.com

www.fastmarkets.com

Show Contacts:

Gregg Riley: Gregg@sitkainc.com

Charles DeLaTorre: cdelatorre@ifpwood.com

Matt Beymer: mattbeymer@hamptonlumber.com

Ashley Boeckholt: ashley@sitkainc.com

Mike Logelin (Gulf Coast Shelter) is back and breaking down what it really looks like to build a lumber business from the ground up—team building, growing pains, and why patience matters in today’s market. Then the crew dives headfirst into one of the most dynamic setups we’ve seen in a while: tightening supply, exploding low-grade pricing, and a freight market that’s turning everything upside down. From Southern Yellow Pine ripping higher to spruce and hem-fir tightening fast, this episode connects the dots between species spreads, trucking chaos, and why the next “panic buy” moment might be closer than you think. If you want to understand what’s actually driving this market—and where the opportunity (and risk) is—this one delivers.

0:00 – Intro + Mike Logan returns

1:00 – Building a trading team from scratch (startup realities)

5:00 – Hiring, training, and the next generation in lumber

7:45 – Market kickoff: everything moving higher

9:00 – Texas demand, low inventories, and species substitution

12:00 – Low-grade explosion (why #3 is driving the bus)

16:00 – Hem-fir + western market tightness

17:45 – Southern Yellow Pine surge + short positions

19:30 – Freight chaos: trucks disappearing, costs spiking

23:00 – Why logistics = real pricing power right now

27:00 – Regional markets tightening due to freight

29:00 – When does the “panic buying” moment hit?

30:30 – Global flows (Euro, Middle East disruption)

33:30 – Macro curveballs: rates, crypto, housing demand

36:30 – Inventory positioning: who’s exposed right now

Guest

Mike Logelin

President-Gulf Coast Shelter

mlogelin@gulfcoastshelter.com

Advertiser

Fastmarkets RISI

Dustin Jalbert

Senior Economist Wood Products

djalbert@fastmarkets.com

www.fastmarkets.com

Show Contacts:

Gregg Riley: Gregg@sitkainc.com

Charles DeLaTorre: cdelatorre@ifpwood.com

Matt Beymer: mattbeymer@hamptonlumber.com

Ashley Boeckholt: ashley@sitkainc.com