Update: Framing Lumber Prices Down Year-over-year

Here is another monthly update on framing lumber prices.  

This graph shows CME random length framing futures through Aug 3rd.

Lumber is currently at $611 per 1000 board feet.  
This is down from a peak of $1,733, and down from $647 a year ago.

Lumber PricesClick on graph for larger image in graph gallery.

Lumber price are down 6% year-over-year.

There were supply constraints over the last year, for example, sawmills cut production and inventory at the beginning of the pandemic, and the West Coast fires in 2020 damaged privately-owned timberland.  
The supply constraints have eased somewhat.
And there was a huge surge in demand for lumber (demand remains strong).

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