Lumber party: economic bounce fuels wood price rally
22 Apr, 2021 10:23 PM
5 minutes to read
Financial Times
US wood prices are racing higher amid a vigorous economic recovery from the pandemic, blasting through previous records as sawmills struggle to keep pace with demand in the run-up to peak homebuilding season. Lumber futures have soared by more than 50 per cent this year to more than $1,327 per 1,000 board feet length as housebuilders and DIY stores scramble for increasingly scarce supplies. That has taken gains since the depths of the Covid-19 crisis to 400 per cent, significantly above the contract s previous high of $650 set in 2018 (all figures US$).