Friday, July 30

lumber market

Bootleg Fire, Lumber, lumber market, lumber outlook, lumber price, Markets, MI Exclusive, Wildfires

Lumber prices spike as wildfires cause producers to cut output, citing’significant’ supply chain challenges

The Bootleg Fire burns through vegetation near Paisley, Oregon, US, July 20, 2021 David Ryder/Reuters Lumber futures have jumped in recent days on concerns over the impact of wildfires on supply. One of North America's largest lumber producers said it would cut output at sawmills due to the fires. One lumber expert told Insider the production cut was the catalyst that confirmed to traders prices had hit a bottom. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Lumber futures have jumped in recent days as concerns mount that wildfires in Canada and the Western US will snarl production and supply chain routes. On Tuesday, Canfor Corporation, one of North America's largest lumber producers, said it was curtailing approximately 115 million board feet of prod...
Lumber, Lumber Crisis, Lumber futures, lumber market, lumber outlook, lumber price, lumber price forecast, Markets, MI Exclusive, wood industry

Lumber prices will fall back to pre-pandemic levels within a year amid considerable volatility, investment chief says

Josef Mohyla/Getty Images The price of lumber futures has fallen to its lowest level since November 2020, erasing this year's dizzying gains. An investment chief says the price of the commodity could reach its pre-pandemic level in the next 12 months. He added, however, that the price trends will vary by geography. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Prices for lumber futures have descended to levels not seen since November 2020, erasing this year's dizzying gains amid a cooling demand for the red-hot commodity.Lumber prices fell for the 10th consecutive week to trade at $536 per thousand board feet-67% lower from their May 7 peak of $1,670 per thousand board feet. Around a year ago, the commodity was hovering just above $400. Despite weeks...
Lumber, Lumber futures, lumber market, lumber outlook, lumber price bottom, lumber price forecast, lumber prices, lumber spot price, Markets, MI Exclusive, stinson dean

Lumber prices have bottomed out, but are likely to stay double the historical average for at least the next 5 years, a lumber trader says

Getty Lumber has probably found a bottom at current levels, but prices will remain over double the average for the next few years, Stinson Dean told Insider. The Deacon Trading founder expects lumber to trade above $1,000 for potentially the next three to five years. He added that the current state of the lumber futures curve confirms that lumber prices have bottomed. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Lumber price have probably found a bottom at current levels, but will remain higher than average for the next few years, a lumber trader told Insider.Stinson Dean, CEO and founder of Deacon Trading, expects lumber to trade above $1000 for potentially the next three to five years. The historical average is around $400, he said."My argument i...