Tree Frog Forestry News

Lumber Prices Break New Records, Adding Heat to Home Prices

By Ryan Dezember
The Wall Street Journal
May 3, 2021
Category: Finance & Economics
Region: Canada, United States

The frenzied climb in lumber prices is generating superlative profits for sawmill owners. Home buyers, renters and do-it-yourselfers are footing the bill. Wood prices pushed further into record territory, a sign that Weyerhaeuser, Canfor and other sawmill owners are in line for even fatter profits than the record earnings they have been reporting for the first three months of 2021. …Lumber futures delivery later this month ended Monday at $1,575.60 per thousand board feet, a record and more than four times the typical price this time of year. On-the-spot prices for two-by-fours and other wood products also have jumped to fresh highs… ending April at a record of $1,290. “Nervousness on the part of many traders was palpable, as they considered what the downside of the run might look like,” Random Lengths said. [We respect the copyrights of the source publication – full access may require a subscription]

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