by Calculated Risk September 10, 2024 1:52 PM
We provide monthly updates on lumber prices.
Special Notes: of CME Group Discontinuation We closed our Random Length Lumber Futures Contract on May 16, 2023. We switched to a physically delivered Lumber Futures Contract which began 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 when both contracts were available.
Click on the graph to enlarge the image.
The chart shows CME Random Length Framing Futures through last August (blue) and the new physically delivered Lumber Futures (LBR) contract starting in August 2022 (red).
LBR is currently at $505 per 1,000 board feet, up slightly from a year ago.
Click on the graph to enlarge the image.
Demand for lumber is seasonal, with lumber prices often peaking in the first half of the year.
Due to the slowdown in the housing market, no significant increases were seen in the spring of 2023 or 2024.
