WY
#You know, I wouldn't say there's no difference, <UNK>, but you still got to take ---+ as you and I talked about last quarter, taking these mills down and then starting them back up, there's always challenges associated with that, and it may be a little more challenging if it's 18 versus 12, but we haven't seen anything systematic or systemic that makes it harder.
You just got unique challenges with each one of these mills as you take them down and bring them back up.
Some of them have go really, really well and some of ours have gone well, and then some of them, you have challenges.
<UNK>, we look at our mills, and I think flint river is a good example of that.
It was not only factor of taking the mill down for maintenance, but we were also installing some really very beneficial equipment around energy costs, so it's a combination of all of those things.
I think it is important to your question that as we've gone through this process there are learnings, and I would call them only tweaks that you get from just the maintenance, which is a very is important piece in our cellulose fibers business.
We are capitalizing on looking at the learnings as we take a mill down and bring it back up, to factor that into our maintenance going forward, and that's part of our operational excellence.
Thank you, <UNK>.
<UNK>.
Hello, <UNK>.
Why don't we take the next question.
You know, I think it really is just the factors that <UNK> went through.
We've had weaker demand from Asia, which impacts the exports that come out of Canada.
We've had some changes in currency that puts some headwinds there.
And then I think, notwithstanding the fact that housing has been ticking up of late in terms of people have reiterated their full-year guidance for the year, the first half was a little disappointing in terms of where we thought things would be.
So as we look at housing for the second half, our guidance really hasn't changed.
Since we didn't have great response in the first half, that would bode for the second half being better.
But as <UNK> said, we'll have to wait and see.
There are just a lot of moving parts out there with all of this.
We really don't have a range for next year that we would give in terms of guidance at this point, <UNK>.
We will do that as we approach year end.
But one thing that I would say about the projects that we're putting in, and the $500 million is a little higher than where we spend historically, but we've got some great wood products projects that are underway that I think will pay additional dividends as we look at bringing our costs down across that system.
So really excited about the projects that we are spending that money on, but a little too soon to tell you exactly what we will be doing for next year.
<UNK>, we still anticipate that southern prices will be up kind of in line with what they've been up over the past couple of years, which would be somewhere in the 2% to 3% range year over year.
Good morning, <UNK>.
As we look at that, <UNK>, we'll just have to see how that actually plays out in terms of what the final resolution will be.
So difficult for us really to tell what that result will be.
It is something that we have tracked, but it's not something that I would say we have a comment that we would make about it in terms of ports at this point.
You bet.
We can hear you.
<UNK>, just to be clear, your question is related to how we do transfer pricing to our ---+
Yes.
Actually they are correlated, because they all come from the same geography.
There is a different mix, however, as you think about what we would send exports, for example, to Japan versus the grade that our domestic sawmills would use.
Directionally, they usually do track, but they will not be similar absolute pricing because of the grade mix.
<UNK>, as we've said before, we are looking to grow our timberlands.
We think our biggest opportunities will be domestic, whether it be in the south or the Pacific Northwest.
We'll also continue to look internationally, but we're going to make sure that we appropriately risk adjust any acquisition that we would make internationally.
So that's kind of generally the way we think about it.
Currency is going to move up, currency is going to move down so we won't overemphasize that in any decision we may make versus acquisitions.
Good morning, Collin.
You're probably just a little optimistic there, Collin.
If you kind of think about guidance for the sale of fibers business, we were at $27 million, I believe, in the second quarter.
We've got 46 days in the second quarter, and probably less than a handful in the third quarter.
So between the maintenance expense and better productivity as we run more days, I would say that's probably going to be around, just to give you some sense, around the $45 million-ish number.
We said we will have likely lower realizations, but I would expect that to be offset by some higher volumes, as well as some additional potential for cost improvement in other ways.
So I think that will help you get a little bit in the zip code.
I think $90 million, love to have $90 million, but that might be a little optimistic at this point.
Yes, I think would you think about $500 million as being closer to the high-water mark, <UNK>.
I don't think we would be looking at something that is significantly above that.
I think last year in 2014 we were around in the $400 million, maybe $450 million.
So we have ramped that up a little bit.
But I wouldn't see us being significantly above $500 million for 2016.
Yes, Collin, there's nothing that should be read into that.
That's just where it ended up for the quarter under our program, and we'll continue to report, on a quarterly basis, our progress going forward.
Thank you.
Collin ---+ I mean, <UNK>, on your first point, on OpEx, we're encouraged by the progress we've made there.
Still more work to do.
In terms of opportunities to grow our portfolio going forward, we've consistently said, I think now over the last couple of years, that we think our biggest opportunity to grow will be in timberlands, but we would look at growing other parts of our Company as well if we can find appropriate growth opportunities that meet our hurdle requirements and drive value for shareholders.
So that's generally how we think about growth going forward.
The beauty of it is, we don't have to grow to be successful.
We can be very disciplined.
We have been, and we'll continue to be.
But if we can find the appropriate opportunities to grow this Company, that's absolutely something we'll look to do to drive value for our shareholders going forward.
Thanks, <UNK>.
As I understand it, that was our final question, and I would just like to thank everybody for joining us this morning for our call, and more importantly, thank you for your interest in Weyerhaeuser.
Have a good day.
