Could US lumber prices heading for a recovery?
The CME’s continuous physical lumber futures contract fell 22.99% in Q2 and was down 21.24% over the first six months of 2024, closing Q2 at $450.50 per 1,000 board feet. Lumber could be close to a bottom near the $450 per 1,000 board feet level on July futures but the price could move lower as the wood futures market traded to a $326.60 low in May 2023. Physical lumber futures for September delivery were at the $488 per 1,000 board feet level on July ...
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