Canfor Reports Huge Loss in 3Q

Canadian lumber company Canfor posted a significant $124 million operating loss in the third quarter after recording a $49.7 million loss in the second quarter. The company said the decline reflected weak global market conditions and significantly lower operating earnings, largely spawned by substantial production curtailments, Woodworking Network reports. The company has shut down one British Columbia sawmill in 2019 and permanently eliminated a shift at another sawmill in July.