by Calculated Risk on 2/02/2022 01:54:00 PM

Here is another monthly update on framing lumber prices.  

This graph shows CME random length framing futures through February 2nd.

Lumber was at $979 per 1000 board feet this morning.  

This is down from a peak of $1,733, but from $887 a year ago - and up more than double from $426 two years ago.

Click on graph for larger image in graph gallery.

Lumber price are up 10% year-over-year and up 130% from two years ago.

There is somewhat of a seasonal demand for lumber, and lumber prices usually peak in April or May (although it is possible lumber prices peaked early this year).

A combination of strong demand and various supply constraints have pushed up the price of lumber.