US lumber prices fall to a new 2022 low after homebuilder sentiment continues to drop
US softwood lumber prices extended their six-day losing streak on Monday after homebuilder sentiment fell for the 12th month in a row. US lumber futures dropped as much as 4% to $370.40 per thousand board feet, representing a fresh low for 2022 and its lowest level since June 2020. The essential building commodity is now down 68% year-to-date and is off 79% from its record high reached in May 2021, when strong demand for homes was compounded by supply chain issues. The weakness in ...
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