Update: Lumber Prices Down Slightly YoY
by Calculated Risk on 6/05/2024 01:01:00 PM
Here is another monthly update on lumber prices.
SPECIAL NOTE: The CME group discontinued the Random Length Lumber Futures contract on May 16, 2023. I’ve now switched to a new physically-delivered Lumber Futures contract that was started in August 2022.
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 $489.50 per 1000 board feet, down 4% from a year ago.
Click on graph for larger image.
There is somewhat of a seasonal demand for lumber, and lumber prices frequently peak in the first half of the year.
We didn’t see a significant runup in the Spring of 2023 due to the housing slowdown, and we didn’t see much of a pickup in the Spring of 2024 either.
