by Calculated Threat on 6/05/2024 01:01:00 PM
Right here is one other month-to-month replace on lumber costs.
SPECIAL NOTE: The CME group discontinued the Random Size Lumber Futures contract on Might 16, 2023. I’ve now switched to a brand new physically-delivered Lumber Futures contract that was began in August 2022.
This graph reveals CME random size framing futures by means of final August (blue), and the brand new physically-delivered Lumber Futures (LBR) contract beginning in August 2022 (Crimson).
LBR is at the moment at $489.50 per 1000 board toes, down 4% from a 12 months in the past.
There’s considerably of a seasonal demand for lumber, and lumber costs incessantly peak within the first half of the 12 months.
We did not see a major runup within the Spring of 2023 as a result of housing slowdown, and we did not see a lot of a pickup within the Spring of 2024 both.
