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February 8, 2022

North American lumber surges again as supplies shrink

North American lumber surges again as supplies shrink
Lumber is on a tear again, bringing back the specter of increasing construction costs.    Lumber futures have recouped recent losses and risen by the exchange maximum of $45 for six consecutive sessions, touching $1,204.90 per 1,000 board feet Wednesday, the highest in three weeks. After prices slumped in January amid cold U.S. weather and transportation bottlenecks, tight inventories ahead of peak building season are helping to fuel a rebound.    “Prices are well above trend pricing, as well as our own price forecasts,” Mark Wilde, an analyst at BMO ...

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