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    Lumber Costs Down Barely YoY

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    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. 

    Sadly, this impacts long run value comparisons because the new contract was priced about 24% greater than the outdated random size contract for the interval when each contracts have been out there.

    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.

    Click on on graph for bigger picture.

    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.

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