Here is another monthly update on framing lumber prices.
This graph shows CME random length framing futures through October 5th.
Lumber was at $645 per 1000 board feet this morning.
This is down from a peak of $1,733, and up from $557 a year ago.
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 (and maybe again in 2021).
Click on graph for larger image in graph gallery.
Lumber price are up 15% 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 (and maybe again in 2021).
The supply constraints have eased somewhat.
And there was a huge surge in demand for lumber (demand remains strong).