By Update: Framing Lumber Prices Up Year-over-year
by Calculated Risk on 11/02/2021 11:56:00 AM
Here is another monthly update on framing lumber prices.
This graph shows CME random length framing futures through November 2nd.
Lumber was at $557 per 1000 board feet this morning.
This is down from a peak of $1,733, and up $25 from 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 6% 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).
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