Here is another monthly update on framing lumber prices.
This graph shows CME random length framing futures through June 29th.
Lumber was at $618 per 1000 board feet this morning.
This is down from the peak of $1,733, and down 21% from $779 a year ago.
Prices are still up sharply from the pre-pandemic levels of around $400.
Click on graph for larger image.
There is somewhat of a seasonal demand for lumber, and lumber prices usually peak in April or May (although it seems likely lumber prices peaked earlier this year).
The slowdown in housing – and some supply improvement – has pushed down prices.
Several commodities are showing year-over-year price declines, and this will take some of the pressure off of inflation.