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Southern loggers are pushing wood production to a 13-year high So why is the price of lumber up 288%?

Southern loggers are pushing wood production to a 13-year high. So why is the price of lumber up 288%? Fortune 2 hrs ago © Ty Wright/Bloomberg Getty Images Absorbent lumber prices mean money, in a sense, does grow on trees. It s why loggers are racing to cut down more Southern yellow pines a plentiful pine that dots the Deep South. On Tuesday, British Columbia-based lumber giant Canfor announced its plan to invest $160 million to build its first-ever sawmill in Louisiana. That comes after British Columbia-based West Fraser Timber announced in May it ll spend $150 million to expand five sawmills in the South. Interfor, a British Columbia-based lumber producer, also plans its own sawmill expansion in Georgia.

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Lumber mania is sweeping North America

Lumber mania is sweeping North America Vox.com 5/3/2021 Emily Stewart © Peter Gercke/picture alliance/Getty Images Contrary to what the memes might have you think, the driver of the truck in the above picture is not a billionaire. For some people, the journey into America’s lumber crunch starts with the decision to build a new home, or at Home Depot, where the pandemic-driven home renovation craze has contributed to making basic materials pricey and hard to come by. For others, it starts with the memes. The price of lumber has soared over the past year, and it’s an incredibly hot commodity. The internet has taken notice.

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