The Rising Influence of Rising Affluence

[DewDiligence]

WY implements COVID-19-related cutbacks to manufacturing operations—timberland operations are little changed:

https://www.sec.gov/Archives/edgar/data/106535/000156459020014260/wy-ex991_22.htm

In response to recent changes in customer sentiment and order flow, Weyerhaeuser is dynamically adjusting operating capacity at certain of its manufacturing facilities. For the month of April, the company expects to reduce operating capacity by approximately 20 percent for lumber, 15 percent for oriented strand board, and 15 to 25 percent for engineered wood products through a combination of temporary mill curtailments and reduced shift postures.

…The U.S. Department of Homeland Security has designated the forest products industry as an “essential critical infrastructure workforce.” This designation recognizes the importance of timber and wood products operations in supporting critical infrastructure and construction projects and the manufacture of important personal hygiene items.

I.e., wood pulp feedstock for toilet paper and diapers.