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Wednesday, June 29, 2022

Update: Framing Lumber Prices Down 21% Year-over-year; Still up Sharply from Pre-pandemic Levels

by Calculated Risk on 6/29/2022 01:22:00 PM

Here is another monthly update on framing lumber prices.

This graph shows CME random length framing futures through June 29th.

Lumber was at $618 per 1000 board feet this morning.  

This is down from the peak of $1,733, and down 21% from $779 a year ago.

Prices are still up sharply from the pre-pandemic levels of around $400.

Lumber PricesClick on graph for larger image.

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

The slowdown in housing - and some supply improvement - has pushed down prices.

Several commodities are showing year-over-year price declines, and this will take some of the pressure off of inflation.