Buyers’ Best Practices When Prices are on the Move
The essence of spring and summer seasons stems from longer days, blooming flowers, the return of greenery…and the swing of the bat. Yes, baseball and all of its slow to sudden glory marks this time of year. It also calls to mind the instrument every player needs – the bat, the wooden stick prescribed by Major League Baseball. There is nothing more genuine than a wooden bat crafted from quality, hardwood lumber. Not to mention the benefits over a metal bat: greater balance, greater control of the swing, and safety. The choices that surround the selection of a particular bat are many, and the consumer, whether professional or amateur, should make their pick based on research, practice and personal preference.
While the warm days of spring and summer bring the swing of the baseball bat, it also brings inevitable swings of volatility in commodity lumber prices. Just as a baseball player evaluates the characteristics of a baseball bat, so too, the lumber buyer must examine and study the lumber market to find a fair price while prices are on the move. This requires the best information that is available and tools that help to execute informed buying processes.
Yesler Intel is a source for independent research regarding today’s fair price. Intel aggregates transaction data and applies an algorithm of demand and supply signals resulting in a “pressure trend” that indicates whether market pressures are for an increase or decrease in price. A buyer can use that information to take effective action. For instance, if pressure is for a decrease in prices, use that information to negotiate a fair price or keep your inventory lean to minimize risk as the market drops.
Second, a buyer’s best practice for getting a fair price is to get multiple quotes for each major purchase. For a buyer buying truckloads of commodity lumber, it’s financially prudent to compare quotes. And when it is unclear from day to day just what the holding price may be, it is even more important that the buyer test the market before deciding on a buy. One option is to use Yesler Marketplace, which makes getting quotes easy with time-saving efficiency and an expanded network of sellers.
Performance in building and performance in baseball are both founded in the materials we choose. Lumber remains a solid choice. It continues to be environmentally sound, reduces CO2 emissions, is durable, and improves energy efficiency, just to name a few attributes. And the wooden baseball bat upholds the legacy and historical importance of the past. It is authentic, genuine, once made by the players, now by machinery. But the significance of wood as a material that defines human performance and exceptionalism still rings true today.
When the competition is intense in baseball or buying lumber, you need the right tools and best practices to win.