Tree Frog Forestry News

Lumber Prices Rise Again, Defying the Normal Seasonal Slowdown

By Ryan Dezember
The Wall Street Journal
November 20, 2020
Category: Finance & Economics
Region: Canada, United States

Lumber prices are making an unusual late-season climb, thanks to builder-friendly autumn weather and suppliers stocking up for what they expect to be another big year for home construction. Lumber futures have shot up 24% so far in November, closing Thursday at $616.90 per thousand board feet. …“By any historical standards, this is just incredibly strong pricing,” said Devin Stockfish, chief executive of Weyerhaeuser. …”We’re going to see some seasonal slowdown, but our expectation is that the builders are going to continue to build as much as possible until winter weather really starts restricting building activity.” …“In 32 years, the best market I have ever seen,”D.R. Horton Inc. CEO David Auld told investors last week. …Home Depot Inc. and Lowe’s Cos… recently ended quarters that were up 24% and 30%, respectively. Both said lumber sales were a big boost and that overall sales to do-it-yourself customers grew faster than those to professionals. [We respect the copyrights of the source publication – full access may require a subscription]

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