US lumber futures fall to two-year low as housing costs bite
US lumber futures have fallen to their weakest level in around two years, trading close to $530 per 1,000 board feet as high borrowing costs continue to weigh on housing demand. The decline extends a slide that began in late July. Futures had been near $535 on September 22, roughly 20% below their July peak, and the market has continued to soften since then. The main pressure is still coming from housing. Mortgage rates have climbed to around 7.3%, their highest level in three years, while higher bond yields and ...
Register for unlimited access
We work hard to bring you the latest news in the world of international wood industry. The article you are currently reading is available only to registered users.
By registering you gain access to:
Thousands of quality articles
In-depth analyses of market trends
Exclusive market price insights
And much more!
