Student Snapshot: Will Giguere ’23 - Meet Will Giguere ’23 (IB&M and Italian studies), a student-athlete who taught basic economics principles to Italian high-schoolers while studying abroad in Bologna.
Lumber futures posted their biggest-ever weekly loss, extending a tumble from all-time highs reached last month as sawmills ramp up output and buyers hold off on purchases.
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Facing skyrocketing lumber prices at home, U.S. importers are driving competition for European wood, and winning.
The frenzy comes on the heels of record American forest-products imports from Europe in 2020, when North American demand soared and caught sawmills off guard with low inventories. Lumber prices have reached new peaks on a near daily basis in recent weeks, quadrupling from just a year ago. The unprecedented rally has been spurred by low borrowing rates, an increased appetite for larger homes, and a frenzy of do-it-yourself renovations during the pandemic.
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