What are the future prospects of lumbering in Canada and USA?

Answer 1

Each Country is on a different path.

Canada has chosen to export it's lumber potential by exporting raw logs. The largest increase in Canadian lumber over the years has been in exporting logs and raw products. They have been shutting down processing and value added plants for more than a generation now.

Many other countries have taken a similar path. If Canada continues to export raw product their future will almost certainly be the same. The value of the resource will decline as fewer and fewer Canadians benefit from the resource. At some point Canada will change it's position but, as has happened elsewhere, the industry will be much smaller than it could have been.

The USA on the other hand has a much more mature industry. They import many raw lumber products from Canada to keep their value added industry funded and active. They have many buy American rules that directly benefit their lumber industry and they are very aware that proper management is required for the industry to be viable over the long term.

The one thing both countries have is land to grow trees. With the world population at 7.1 Billion and growing fewer and fewer countries have land to grow trees. That alone should ensure a profitable future for lumbering in North America.