CFPZF - Canfor cuts western Canada sawmill production due to supply chain problems

Canfor (CFPZF -2.9%) said it will cut production at its western Canada sawmills effective April 4, due to "the cumulative effects of the global supply chain crisis that has been ongoing for several months." The lumber producer said the reduced operating schedules will remain in effect for a minimum of four weeks, then make adjustments as supply chain conditions evolve. Canfor said it has become imperative to reduce operating schedules to address unsustainable inventory levels. Canfor said the move will impact production capacity by a minimum of 100M board feet. With new home sales falling and the do-it-yourself home consumer sector slowing, lumber futures have plunged in recent weeks.

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Canfor cuts western Canada sawmill production due to supply chain problems