Monday, July 26

lumber outlook

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 industry, lumber outlook, lumber price, lumber price forecast, Markets, MI Exclusive, wood industry

Lumber prices continue to fall, and are headed to as low as $350 by August, an analyst says

Lumber prices plummeted in June. Carolyn Cole/Getty Images Lumber futures are sliding after a brief pop last week, falling 21% in the last five days as the hot commodity comes down from dizzying highs.The price of lumber is trading at $642 per thousand board feet, roughly 62% lower from its May 7 peak of $1,670 per thousand board feet.But the downtrend after scaling to unprecedented highs should be expected, said Troy Merkel, partner and senior real estate analyst at Chicago-based consulting firm RSM. He said he expects the price of the commodity to moderate, especially as supply chains normalize and recover after the last year of the pandemic. By the end of August and into early September, he told Insider the price of lumber may settle between $350-$450 per thousand board feet d...
Home Improvement, inflation, Lumber, lumber outlook, lumber prices, Markets, MI Exclusive, reopening

Lumber prices have turned negative for the year after red-hot rally as the home improvement boom cools

Lumber prices soared up until May, when they started to tumble. Josef Mohyla/Getty Images Lumber prices have dropped into negative territory for the year after two months of dramatic falls, as the home improvement boom cools and producers increase supply to meet demand.On Monday lumber futures for September delivery fell 5.6% to $712.90 per thousand board feet, Bloomberg data showed. The fall took prices 0.6% below where they started the year.Lumber soared in the first few months of 2021 as Americans stuck at home due to the pandemic renovated their houses and a booming property market added to demand. Prices peaked at more than $1,730 per thousand board feet in May as suppliers struggled to keep up.The rocketing price of lumber captured the attention of the market as a sign of t...
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...