Lumber futures have soared since the start of April, driven by cutbacks at mills, signs that the home-building season might be salvaged and brisk business at home-improvement stores. …Lumber futures for July delivery ended Friday at $367.50 per 1,000 board feet, up 46% from a low on April 1. …Lumber mills were quick to curtail production as wood prices plummeted in February and March and it looked like the home-building season would be lost. …Though some mills have ramped up, about 20% of normal production remains curtailed, according to executives with Interfor. …Random Lengths’ report for last week described “tight supplies in all species,” mills booking orders into the second half of June and “scorching home center demand” for southern yellow pine, often useds for fencing and decks. …Hamir Patel, with CIBC Capital Markets, said the massive job loss during the pandemic has been concentrated “among low-income households that are not typically in the market to own a home.” [We respect the copyrights of the source publication – full access may require a subscription]