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NAHB/Wells Fargo Housing Market Index shows builder confidence dip to its lowest level since last August, but research supporting those numbers was done before lumber prices had convincingly tumbled
Wood product prices are setting new records almost daily, and lumber prices are now up 67 percent in 2021 and up 340 percent from a year ago.
by Tyler Durden Saturday, Jun 05, 2021 - 08:45 AM Lumber futures on Chicago Mercantile Exchange fell -3.1% to $1,284.20 per 1,000 board feet, extending last week's first loss since January. For the last 18 trading sessions, lumber prices have come under pressure amid signs that an unprecedented rally may be waning. Citing data from trade publication Random Lengths, CIBC analyst Hamir Patel told Bloomberg that Western spruce-pine-fir prices decreased $130, or -8.1%, compared to last week's $1,470 per 1,000 board feet, and Southern yellow pine 2x4 lumber dropped $92, or -6.9%, to $1,236 per ...
As the cost of wood increases, there have been reports of a recent surge in lumber theft. Calgary Police say that they have always dealt with theft from construction sites; however, they started to notice an uptick in lumber theft around the end of last year’s construction season. Low theft levels were seen throughout the winter, but there has been another recent increase as the weather has gotten warmer, including some incidents in which lumber has been stolen from trailers on transport trucks. Sergeant Nick Wilsher of the Calgary Police Service Crime Prevention Team told Daily Hive that l...
May 27, 2021 LADD – It’s no secret that lumber prices have skyrocketed due to the pandemic and the strain is hitting Habitat for Humanity’s Ladd build like a ton of bricks. Since the start of the pandemic lumber prices have steadily up-ticked for a number of reasons, like the closure of mills nationwide and all those, “do-it-yourselfers” itching to get projects done at home. Pete Loveland, General Manager at Maze Lumber in Peru says the local situation is a microcosm of what’s going on nationally. To get some perspective, Loveland says building material like OSB or waferboa...