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Coverage Notes

This section is updated periodically. Last update: July 22, 2020


Coverage Note: Random Lengths proposes to simplify monthly average calculation

EUGENE, OR, July 22, 2020 — With effect from September 2020, Random Lengths is proposing to simplify the process for calculating monthly averages.

Monthly averages appear in the Random Lengths weekly publication and in Yardstick. Currently they are calculated using the ISO 8601 rule, whereby the first week of the year is the week containing the first Thursday. In determining monthly averages, Random Lengths expands that rule, so the first week of a month is the week that contains the first Thursday of the month.

From September, Random Lengths proposes to use the simple arithmetic average of all prices published in the calendar month to calculate the monthly averages. This should not affect calculations for the rest of 2020, but may impact the averages in 2021 if the first day of the month falls on a Friday.

At the same time, Random Lengths will move to publishing lumber prices online with the actual date of assessment (usually a Thursday) rather than the date of the weekly publication (Friday’s date). This approach is more consistent with other parts of the Fastmarkets business.

To see Random Lengths pricing methodologies and specification documents visit http://www.rlpi.com/Methodology/.

To provide feedback on this notice, please contact Matt Graves at pricing.risi@fastmarkets.com no later than August 31st. Please add the subject heading ‘FAO: Matt Graves re: Random Lengths Monthly Averages.’


Coverage Note: Random Lengths to move to one annual methodology review and price guide change

EUGENE, OR, June 16, 2020 — Random Lengths will begin reviewing methodologies and price specifications on an annual basis rather than twice a year.

This decision aligns Random Lengths with all other Fastmarkets Price Reporting Agency divisions — including metals and mining and forest products — in conducting annual assessments. This policy was set in place earlier in 2020.

The policy is in line with the International Organization of Securities Commissions (IOSCO) principles for PRAs, which sets out global standards for orderly and fair price assessment processes, and with practices followed by other commodity PRAs. The move also reflects the longevity for our pricing methodologies, which have been designed to fit specific markets over the longer term without needing constant adjustments.

Random Lengths will inform the industry and invite feedback via a pricing notice before annual methodology reviews take place to ensure our methodologies continue to reflect the physical market under assessment.

The annual review will cover the assessment and index methodologies as well as individual price specifications. Proposals to make material changes and discontinue or launch prices will involve a market consultation, the length of which will depend on how substantial the changes are for the industry.

Random Lengths will continue to propose changes to methodologies and prices on an ad-hoc basis as and when necessary, and will carry out a market consultation if the suggested changes are material.

To see Random Lengths pricing methodologies and specification documents, visit http://www.rlpi.com/Methodology/.

To provide feedback on this notice, please contact Matt Graves at pricing.risi@fastmarkets.com. Please add the subject heading ‘FAO: Matt Graves re: annual methodology reviews.’


Coverage Note: Fastmarkets Forest Products business continuity statement

BURLINGTON, MA, March 19, 2020 (Fastmarkets RISI) – As a provider of business critical news and price information for the metals, mining, and forest products industries, Fastmarkets is committed to continuously delivering business critical information and data to the markets we serve throughout the global crisis related to Covid-19.

  • Please note that our Business Continuity plan is currently in effect and functioning.
  • All Fastmarkets data is in a secure cloud-based environment and backed up in real-time.
  • All price reporting and editorial teams in North America, Europe, and Latin America are now working from home and all systems have been successfully tested.
  • Price reporting teams have been implementing a comprehensive cross-training and back-up program enabling colleagues to step in if regular reporters become unavailable.

As the pandemic progresses, we will continue to review our policies and procedures on a regular basis, and we will adapt them as necessary. We will ensure we comply with government directives and the advice of health agencies in the countries in which we operate.

Please don’t hesitate to get in touch with any questions you may have by emailing pricing.risi@fastmarkets.com.

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Coverage Note: Random Lengths to report AG 2x4 8-foot prices

EUGENE, OR, March 2, 2020 - Random Lengths has made final its decision on reporting Appearance Grade 2x4 8-foot in certain species. Effective with the April 3, 2020 issue, prices of Appearance Grade 2x4 8-foot in Western S-P-F, Coast dry Douglas Fir, and Inland Hem-Fir will be added to the stud section on page 5 of the 14-page weekly report. This product will reflect premium grade stock, allowing for limited pencil wane.

These prices are being added after an extensive industry consultation found that a majority of the industry wants benchmark pricing for this sector of the market. An initial proposal to include Eastern S-P-F was dropped, after finding there was insufficient support from the industry to track this product in this species.

We would like to thank all who commented on these proposed changes both verbally and in writing.

For comments and queries, please email: pricing.risi@fastmarkets.com

For other Random Lengths Coverage Notes please see:

 http://www.rlpi.com/Coverage-Notes/

For more information on Random Lengths assessment methodology, please see:

 http://www.rlpi.com/Methodology/


Coverage Note: Random Lengths to consider reporting prices for Appearance Grade premium 2x4 8-foot

EUGENE, OR, [January 13, 2020] - Random Lengths is seeking industry feedback on whether to report prices for Appearance Grade premium 2x4 8-foot in certain species.

Based on research to date, Random Lengths is starting this consultation proposing to add prices for Appearance Grade 2x4 8-foot in Western S-P-F, Eastern S-P-F, and dry Douglas Fir. However, other species may be considered if it can be determined that there is enough market information to warrant pricing them.

The decision on reporting these prices will depend in large part on industry support, and a willingness of both buyers and sellers to take part in the weekly price assessment process.

For comments and queries regarding these changes, please send email to: pricing@risi.com. Comments must be submitted by the end of the business day February 10.

For other Random Lengths Coverage Notes please see:

 http://www.rlpi.com/Coverage-Notes/

For more information on Random Lengths assessment methodology, please see:

 http://www.rlpi.com/Methodology/


Coverage Note: Proposed Changes Finalized for Price Guides in Random Lengths, Random Lengths International

EUGENE, OR, [August 22, 2019] - After seeking industry feedback since mid-July on several changes or additions to the Random Lengths and Random Lengths International lumber and panel price guides, all changes as proposed will be implemented. These changes take effect with the October 1, 2019, issue of Midweek, the October 4, 2019, issue of Random Lengths, and the October 2, 2019, issue of Random Lengths International.

Random Lengths will add the price for Canadian Spruce Plywood 3/8-inch delivered Toronto to the structural panel section of Midweek. This is an addition widely requested by the industry since Random Lengths and Crow’s merged in April of this year.

On page 13 of the 14-page weekly report, Canadian OSB prices currently shown as delivered to Saskatchewan, Manitoba, and Atlantic will reflect Regina, Winnipeg, and Moncton, N.B., respectively, as the delivery points. Added to the guide will be delivered prices to Halifax, Nova Scotia. These changes will make the price grid for Canadian OSB delivery points consistent with that of Canadian plywood sheathing.

In the lumber price guide, deduct prices for Western S-P-F Std&Btr 2x4 random dimension, found in footnotes on pages 5 and 6 of the weekly newsletter, will be retired. The deduct is from the published #2&Btr price. Industry feedback to date indicates there are no longer Western S-P-F mills grade stamping 2x4 random dimension as Std&Btr.

In Random Lengths International, changes in production over the years have necessitated a change in the description of Douglas Fir 4-1/8x4-1/8 baby squares from green to kiln-dried stock. Industry feedback indicates almost all production of baby squares is now kiln dried.

To all who commented on these proposed changes, both verbally and in writing, your feedback has been helpful, and much appreciated.

For other Random Lengths Coverage Notes please see:

 http://www.rlpi.com/Coverage-Notes/

For more information on Random Lengths assessment methodology, please see:

 http://www.rlpi.com/Methodology/


Coverage Note: Changes proposed for Price Guides in Random Lengths, Random Lengths International

EUGENE, OR, [July 15, 2019] - Random Lengths is seeking industry feedback on several changes or additions to the Random Lengths and Random Lengths International lumber and panel price guides. If carried through, these changes would take effect with the October 4, 2019, issue of Random Lengths, and the October 2, 2019, issue of International.

First, Random Lengths is considering adding the Canadian Spruce Plywood 3/8-inch delivered Toronto price to the structural panel section of Midweek. This is an addition widely requested by the industry since Random Lengths and Crow’s merged in April of this year.

Also under consideration is a change in Canadian OSB delivered prices on page 13 of the 14-page weekly report. Current regional prices delivered Saskatchewan, Manitoba, and Atlantic would change respectively to Regina, Winnipeg, and Moncton, N.B. Added to the guide would be delivered prices for Halifax, Nova Scotia. These changes would make the price grid for Canadian OSB delivery points consistent with that of Canadian plywood sheathing.

Another proposed change is the retirement of footnoted deduct prices for Western S-P-F Std&Btr 2x4 random dimension found in footnotes on pages 5 and 6 of the 14-page weekly newsletter. The deduct is from the published #2&Btr price. Industry feedback to date indicates there are no longer any Western S-P-F mills grade stamping 2x4 random dimension as Std&Btr.

For Random Lengths International, changes in production over the years may necessitate a change in the description of Douglas Fir 4-1/8x4-1/8 baby squares from green to kiln-dried stock. Industry feedback collected to date indicates almost all production of baby squares is now kiln dried.

For comments and queries regarding these changes, please send email to: pricing@risi.com. Comments must be submitted by the end of the business day August 12.

For other Random Lengths Coverage Notes please see:

 http://www.rlpi.com/Coverage-Notes/

For more information on Random Lengths assessment methodology, please see:

 http://www.rlpi.com/Methodology/


Coverage Note: Completion of Crow's, Random Lengths merger

EUGENE, OR, Apr. 8, 2019 — As previously announced, Fastmarkets RISI has completed the merger of Crow’s and Random Lengths news and price services into a new offering combining the strengths of both services.

This follows Fastmarkets RISI’s acquisition of Random Lengths in the summer of 2018. Following the merger, Random Lengths prices will now be available via the Fastmarkets RISI online portal. Newsletter customers will moreover receive single publications for midweek, online weekly lumber and panel market reports, and the weekly report.

As a reminder, Fastmarkets RISI has discontinued all Crow’s prices with the following exceptions:

  • Canadian OSB delivered Calgary, Saskatchewan, Manitoba, Montreal, Atlantic
  • Canadian Sheathing (CSP and DFP) delivered Vancouver, Calgary/Edmonton, Regina, Winnipeg, Toronto, Montreal, Maritimes. (With the merger, the Maritimes destination for Canadian Spruce and Douglas Fir plywood has been changed to Moncton. Prices for Nova Scotia, currently published in Crow’s as footnotes, have moved into columns with Halifax shown as the delivery location and will be available in data downloads.)
  • Ponderosa Pine, 5/4, S2S MLDG 1-5/16”
  • Ponderosa Pine, 6/4, S2S MLDG 1-9/16”
  • Radiata Pine 6/4 Blocks & Blanks

These price series have been added to the new combined reports.

All prices previously published in Random Lengths have been retained, with the exception of two OSB prices: 1/4-inch produced in Eastern Canada and 1/4-inch delivered to Toronto. These prices were retired at the beginning of April.

New features in the weekly publication include a lumber futures commentary and chart, a Non-Structural Panel Composite Price Index, and a rotating chart feature showing trends in OSB and plywood. Quick Stats, a feature brought over from Crow’s, provides the most up-to-date weekly and monthly housing, production, and economic indicators. Also carried over from Crow’s are the Construction Materials Cost Indices, which are weightings of the costs of lumber and panels used in residential construction in the West and South.

A full list of Fastmarkets RISI/Random Lengths price assessments can be found here.

For information on the new names and price IDs of retained Crow’s price, please see our price key here.

For comments and queries, please email pricing.risi@fastmarkets.com.

For other Fastmarkets RISI/Random Lengths Coverage Notes please see here.

For more information on Fastmarkets RISI/Random Lengths assessment methodology, please see here.

For more information on Fastmarkets RISI/Random Lengths publishing schedule, please here.


Coverage Note: Countdown to Crow’s, Random Lengths merger

EUGENE, OR, Mar. 6, 2019 — As previously announced, from the end of the first quarter 2019, Crow’s will be merged with Random Lengths into a new offering combining the strengths of both services.

This follows Fastmarkets RISI’s acquisition of Random Lengths in the summer of 2018. Following the merger, customers will receive single publications for Midweek, the online weekly lumber and panel market reports, and the weekly report.

As a reminder, Fastmarkets RISI will discontinue all Crow’s prices with the following exceptions:

  • Canadian OSB delivered Calgary, Saskatchewan, Manitoba, Montreal, Atlantic
  • Canadian Sheathing (CSP and DFP) delivered Vancouver, Calgary/Edmonton, Regina, Winnipeg, Toronto, Montreal, Maritimes. (With the merger, the Maritimes destination for Canadian Spruce and Douglas Fir plywood will be changed to Moncton, N.B. Prices for Nova Scotia, currently published in Crow’s as footnotes, will move into columns with Halifax shown as the delivery location.)
  • Ponderosa Pine, 5/4, S2S MLDG 1-5/16”
  • Ponderosa Pine, 6/4, S2S MLDG 1-9/16”
  • Radiata Pine 6/4 Blocks & Blanks

These price series will be added to the new combined reports.

All prices currently published in Random Lengths will be retained, with the exception of two OSB prices: 1/4-inch produced in Eastern Canada and 1/4-inch delivered to Toronto. These prices will be retired.

A full list of these price series, including new names and price IDs, will be provided shortly.

For comments and queries, please send email to: pricing@risi.com

For other Random Lengths Coverage Notes please see:
http://www.rlpi.com/Coverage-Notes/

For more information on Random Lengths assessment methodology, please see:
http://www.rlpi.com/Methodology/


Coverage Note: Changes for Two Delivered Canadian Plywood Markets (Notification)

EUGENE, OR, January 17, 2019 - After consultation with the Canadian panel industry, Random Lengths and Crow’s have proposed two changes to the Canadian plywood report.

When Crow’s is merged with Random Lengths at the start of the second quarter, the column headings for Spruce and Douglas Fir plywood prices delivered to the Maritimes will be changed to Moncton (N.B.) as the delivery location. In addition, prices for Nova Scotia, currently published in Crow’s as footnotes, will move into columns with Halifax shown as the delivery location.

These changes are intended to make pricing in these markets consistent with other Canadian plywood prices using key cities as delivery locations.

In addition, the freight rate to Moncton will be an adder of $20 from Toronto, and Toronto to Halifax will be $25.

For comments and queries, please send email to: pricing@risi.com, indicating “Canadian Panel Pricing” in the subject line of the email. The deadline for comment is February 1, 2019.

For other Random Lengths Coverage Notes please see:
http://www.rlpi.com/Coverage-Notes/

For more information on Random Lengths assessment methodology, please see:
http://www.rlpi.com/Methodology/


Coverage Note: Rationalization of Crow’s, Random Lengths Price Coverage Finalized

EUGENE, OR, Nov. 14, 2018 - After more than a month of seeking feedback on RISI’s acquisition of Random Lengths and its plans to merge the Crow’s and Random Lengths newsletters, this Coverage Note serves to inform all stakeholders that these plans have been made final.

The feedback we received broadly supported the proposed plan as it was initially published on October 10, 2018. By the end of Q1, 2019, Random Lengths and Crow’s will be merged into a new offering combining the strengths of both services. This will include single publications for the midweek, lumber, panel, and weekly report.

RISI will maintain all Random Lengths prices as currently published, while discontinuing all Crow’s prices with the following exceptions:

  • Canadian OSB delivered Calgary, Saskatchewan, Manitoba, Montreal, Atlantic (Price IDs 11157, 11164, 11167, 11168, 11171, 11174, 11175, 11178, 11181, 11182, 11185, 11188, 11189, 11192, 11195, 11196, 11603, 11610, 11614, 11622, 11628, 11636, 11642, 11649, 11653, 11661, 11667, 11674)
  • Canadian Sheathing (CSP and DFP) delivered Vancouver, Calgary/Edmonton, Regina, Winnipeg, Toronto, Montreal, Maritimes (Price IDs 11197 to 11515 inclusive).
  • Ponderosa Pine, 5/4, S2S MLDG 1-5/16" (Price ID 10897)
  • Ponderosa Pine, 6/4, S2S MLDG 1-9/16" (Price ID 10904)
  • Radiata Pine 6/4 Blocks & Blanks (10918 and 10920)

To all stakeholders who took the time and effort to comment on the proposed merger, your input has been helpful and much appreciated.

For other Random Lengths Coverage Notes please see here.

For more information on Random Lengths assessment methodology, please see here.


Coverage Note: Rationalization of Crow's, Random Lengths Price Coverage

EUGENE, OR, Oct. 10, 2018 - Following RISI’s acquisition of Random Lengths earlier this year, Crow’s and Random Lengths will be merged by the end of Q1, 2019. Their respective core newsletters will be merged into single publications, with one respective Midweek, Lumber and Panel report.

RISI is seeking stakeholder feedback on preliminary plans through this Coverage Note.

RISI proposes to maintain all Random Lengths prices as currently published. RISI proposes to discontinue all Crow’s prices with the exception of:

  • Canadian OSB delivered Calgary, Saskatchewan, Manitoba, Montreal, Atlantic (Price IDs 11157, 11164, 11167, 11168, 11171, 11174, 11175, 11178, 11181, 11182, 11185, 11188, 11189, 11192, 11195, 11196, 11603, 11610, 11614, 11622, 11628, 11636, 11642, 11649, 11653, 11661, 11667, 11674)
  • Canadian Sheathing (CSP and DFP) delivered Vancouver, Calgary/Edmonton, Regina, Winnipeg, Toronto, Montreal, Maritimes (Price IDs 11197 to 11515 inclusive).
  • Ponderosa Pine, 5/4, S2S MLDG 1-5/16" (Price ID 10897)
  • Ponderosa Pine, 6/4, S2S MLDG 1-9/16" (Price ID 10904)
  • Radiata Pine 6/4 Blocks & Blanks (10918 and 10920)

For comments and to give feedback, please email pricing@risi.com noting “Crow’s, Random Lengths” in the subject-line of the email by Oct 31, 2018.

For other RISI Coverage Notes please see here.

For more information on RISI’s assessment methodology, please see here.

Friday, September 25, 2020