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The purpose of this paper is to develop and employ an economic supply-and-demand framework to examine, assess, and describe trends in softwood lumber price levels and regional market shares, and to provide some analysis of the underlying economic processes that resulted in the price, consumption, and market share trends which occurred through the 1970-early 1990s period. The analytical framework is used to isolate the effects of particular determinants on observed market indicators, and to evaluate how and why supply and demand have evolved. Subjects examined include real price trends in lumber and US consumption, Canadian exports to the US and the Canadian share of the US market, shifts in North American supply and demand curves with regard to such factors as technological change and competition for roundwood, and structural change in the softwood lumber market.