Friday, July 30

wood industry

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...