by Calculated Risk on 5/31/2022 01:17:00 PM
Here is another monthly update on framing lumber prices.
This graph shows CME random length framing futures through May 31st.
Lumber was at $656 per 1000 board feet this morning.
This is down from the peak of $1,733, and down 50% from $1,284 a year ago.
Prices are still up sharply from the pre-pandemic levels of around $400.
There is somewhat of a seasonal demand for lumber, and lumber prices usually peak in April or May (although it seems likely lumber prices peaked earlier this year).
The slowdown in housing – and some supply improvement – has pushed down prices.