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Massive corrective free fall : Lumber wipes out all its 2021 gains after record boom

Article content Prices at Monday’s close are now down 0.6 per cent for the year as demand eases and supply expands in response to earlier gains. The rally turned a common building product into a social media sensation and a flash point in the debate over U.S. monetary policy. At one point, lumber futures were trading as high as US$1,733.50 per thousand board feet, more than quadruple the level of a year earlier. We apologize, but this video has failed to load. Try refreshing your browser, or Massive corrective free fall : Lumber wipes out all its 2021 gains after record boom Back to video

Lumber Futures Wipe Out 2021 Gains As Supply Builds

by Tyler Durden Monday, Jul 12, 2021 - 11:00 PM Lumber futures on Chicago Mercantile Exchange have officially wiped out all gains for the year on Monday. Prices have been sliding for 44 days, down at least 60% from the record high of $1,711 per thousand board feet from late April/early May. As we ve noted multiple times, the great lumber bubble has popped.  The drop in lumber prices has been quite dramatic and is a classic commodity blowoff top. The quadrupling of prices over the last year has been bad news bears for builders and do-it-yourselfers. Even with prices around $685, prices are still more than double pre-COVID prices. 

Цены на пиломатериалы ушли в минус по сравнению с уровнями на конец прошлого года

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