Here is another monthly update on framing lumber prices.
This graph shows CME random length framing futures through February 2nd.
Lumber was at $979 per 1000 board feet this morning.
This is down from a peak of $1,733, but from $887 a year ago – and up more than double from $426 two years ago.
A combination of strong demand and various supply constraints have pushed up the price of lumber.
Lumber price are up 10% year-over-year and up 130% from two years ago.
There is somewhat of a seasonal demand for lumber, and lumber prices usually peak in April or May (although it is possible lumber prices peaked early this year).
A combination of strong demand and various supply constraints have pushed up the price of lumber.