Futures prices are predictive, and the price spread between nearby futures versus Spring 2021 futures is sending a clear message: lumber prices are coming down next Spring. 2020 has been a year of highs and lows for the lumber industry. Historically, Lumber reached an all time high of 1000 in September of 2020. I write about commodities through a three-decade lens of experience. It means home building permits will likely decline in a big way in Autumn 2020. Lumber - data, forecasts, historical chart - was last updated on November of 2020. Prices like that will make homeowners and professional home builders delay any plans they may have for large scale projects requiring lumber. Lumber prices have more than doubled since spring. You may opt-out by. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation BrandVoice, November 2020 loosening of tariff restriction on Canadian lumber imports. September 14, 2020 was a history making day in the lumber futures markets. Panic induced by western wildfires, which have shut down logging operations and threatened supply to lumber mills in some areas, caused the sudden price spike in nearby futures, but futures contracts for later delivery next spring didn’t follow suit. In fact, it had looked like lumber prices were topping in the first week of September. Starting in early March, and continuing on through mid-June, prices plummeted and held at a relatively low mark. Largest Four-Month Lumber Price Increase in 70 Years Outweighs Other Price Declines in August By David Logan on September 11, 2020 • (). Even as families across America express interest in moving to lower-density areas and building homes, an increase in the price of lumber across the board is making their dream inaccessible for many. The futures markets have already priced in a huge discount, which has gone from about 35 percent in the first few days of September to nearly 45 percent right now. There is one bright spot highlighted on this graphic though. About the Lumber commodity forecast. Based on our forecasts, a long-term increase is expected, the "LB" commodity price prognosis for Nov 19, 2025 is 744.434 USD per board foot. It means professionals can buy lumber on the futures exchange right now at about $530 versus the $1000 price someone paid on September 14, 2020. What’s happening to Lumber Prices? Just $260 on April 1, this number had increased to $840 by August 21: a full 220% increase in price. Early on in 2020, when the pandemic was just starting to gain global publicity, lumber prices slumped. Lumber prices start to level off after skyrocketing this summer November 11, 2020 by Claire Stremple, KHNS - Haines Units of plywood stacked at a Haines hardware store. I am a commodities focused entrepreneur with over three decades of experience in physical and derivative energy and agricultural commodity markets. September 14, 2020 was a history making day in the lumber futures markets. But the fires came and those needing lumber now were forced to pay up; those able to delay their purchases appear to have sat out the panic. More staggering however is how 2020’s lumber boom has increased the prices … Lumber price (per board foot) equal to 600.500 USD at Nov 25, 2020. Since the end of August we’ve seen a small stabilization or down tick in lumber prices. Opinions expressed by Forbes Contributors are their own. The spot price of lumber, that of the September futures contract consisting of 110,000 … For every $1,000 increase in home prices, approximately 150,000 U.S. families get priced out. operations across the West; lumber prices have surged. Get the latest Lumber price (LBS) as well as the latest futures prices and other commodity market news at Nasdaq.
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