Perspectives on the changing economic structure of the North American softwood lumber industry

The U.S. softwood lumber industry displays evidence of competitive structure, and lumber prices display variability that is characteristic of decentralized, competitive markets. Following a period of increasing seller concentration after 1947, the industry experienced essentially no increase in concentration after 1970. Also, there was significant turnover in the ranking of the top 20 producers after 1972. When the Canadian and U.S. softwood lumber industries are analyzed together, concentration ratios are lower than for the United States separately. Concentration in the lumber industry is well below the level considered by economists to endow leading firms with the ability to control prices.

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