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Wednesday, June 30, 2021

Update: Framing Lumber Prices Down Sharply from Recent Peak, Up Solidly Year-over-year

by Calculated Risk on 6/30/2021 12:14:00 PM

Here is another monthly update on framing lumber prices.  

This graph shows CME framing futures through June 30th.

Lumber is currently at $722 per 1000 board feet.  

This is down from a peak of $1,733, but up from $448 a year ago.

Lumber PricesClick on graph for larger image in graph gallery.

Lumber price are up 60% year-over-year.

There are supply constraints, for example, sawmills cut production and inventory at the beginning of the pandemic, and the West Coast fires in 2020 damaged privately-owned timberland.  

The supply constraints are easing.

And there has been a huge surge in demand for lumber.