Framing lumber prices are down 21% year-over-year; Still sharply above pre-pandemic levels

on Estimated risk per 06/29/2022 13:22:00

Here is another monthly lumber price update.

This chart shows Random CME Length formation of futures until June 29.

This morning lumber was $618 for 1,000 boards.

This is below the peak of $1,733 and down 21% from $779 a year ago.

Prices are still up sharply from pre-pandemic levels of around $400.

lumber pricesClick on the graph to enlarge the image.

There is a sort of seasonal demand for lumber and lumber prices usually peak in April or May (although it is likely that lumber prices peaked earlier this year).

A slowdown in housing construction and some improvement in supply led to lower prices.

Prices for some goods are falling compared to last year, and this will partially reduce inflationary pressures.