Latest News

Update: Lumber Prices Down 11% YoY

0
Here is another monthly update on lumber prices.

SPECIAL NOTE: The CME group discontinued the Random Length Lumber Futures contract on May 16th. I’ve now switched to a new physically-delivered Lumber Futures contract that was started in August 2022. 

Unfortunately, this impacts long term price comparisons since the new contract was priced about 24% higher than the old random length contract for the period both contracts were available.

This graph shows CME random length framing futures through last August (blue), and the new physically-delivered Lumber Futures (LBR) contract starting in August 2022 (Red).

LBR is currently at $491.50 per 1000 board feet, down 11% from $550.00 a year ago.
Click on graph for larger image.

There is somewhat of a seasonal demand for lumber, and lumber prices usually peak in April or May.
We didn’t see a significant runup in prices this Spring due to the housing slowdown.

FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores

Previous article

Vehicles Sales increase to 15.67 million SAAR in September; Up 15% YoY

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News