Lumber demand is so strong that Resolute Forest Products Inc.’s order book exceeds its inventory, according to Chief Executive Officer Remi Lalonde.

“The order book is as strong as it’s ever been,” Lalonde told analysts during a conference call to discuss first-quarter earnings on Thursday. “At this point it’s about six to eight weeks out, so we’re selling volume that we haven’t sawed yet.”

Lumber futures have surged 85% this year amid sky-high demand from homebuilders and remodelers. The price touched an all-time high of $1,334.60 per thousand board feet two days ago on the Chicago Mercantile Exchange.

Resolute’s lumber orders are “larger than the finished goods inventory that we have,” Lalonde said, adding that he expects wood prices to be higher in the second quarter compared with the first three months of the year.

As a result, the company has increased crew shifts at sawmills in Arkansas and Ontario, he said. Resolute shares have more than doubled this year, pushing the company’s market valuation to more than $1 billion.