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December 5, 2022

North American lumber prices can’t stop falling, as housing market is struggling

North American lumber prices has been among the biggest commodity price decliners this year, and the outlook for the market doesn’t look to improve anytime soon.  Random-length lumber for January delivery settled at $423.80 per 1,000 board feet on Nov. 29, down about 63% for the year.  “CME lumber futures have been, by far, the worst-performing commodity futures in 2022,” says Walter Kunisch Jr., senior analyst at HTS Commodities. The “lack of confidence in the U.S. housing market, amid the sharp rise in interest rates and mortgage rates, is creating ...

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