Lumber Hits 12-week Low

Lumber decreased to 561.00 USD/1000 board feet, the lowest since March 2026. Over the past 4 weeks, Lumber lost 5.45%, and in the last 12 months, it increased 1.52%.

Lumber futures fell to $564 per thousand board feet, the lowest in seven weeks, as broader uncertainty and ongoing trade tensions weigh on sentiment. The US has recently outlined preliminary antidumping and countervailing duties on Canadian softwood lumber, with the antidumping rate reduced from 20.6% to 10.7% and the countervailing duty trimmed from 14.6% to 14.2%, lowering the combined rate to about 25.9%. Including an existing 10% Section 232 tariff, total effective duties on Canadian imports are expected to remain near 35.9% once they take effect in August. Despite these measures aimed at supporting domestic producers, US sawmill utilization remains relatively weak at around 64%, with capacity use trending lower since 2017, pointing to limited supply response. At the same time, elevated construction costs and high interest rates are continuing to pressure housing activity, with US builder confidence slipping to its lowest level since September 2025.

Lumber decreased to 575.00 USD/1000 board feet, the lowest since March 2026. Over the past 4 weeks, Lumber lost 2.69%, and in the last 12 months, it increased 0.69%.