by calculated risk 5/08/2024 09:58:00 AM
This is also a monthly update on lumber prices.
Notices: of CME Group has been discontinued I have now switched to the new physically delivered timber futures contract starting in August 2022.
Unfortunately, this affects long-term price comparisons, as the price of the new contract was approximately 24% higher than the old random-length contract during the period that both contracts were available.
This chart shows the CME random length framing futures (blue) through last August and the new physical delivery lumber futures (LBR) contract starting in August 2022 (red).
LBR is currently $498.50 per 1000 board feet, about the same as a year ago.