Lumber Falls Toward 2-Year Low

2026-11-05 17:04 By Larissa Caser 1 min. read

Lumber futures fell below $526 per thousand board feet, moving back towards their lowest level in more than two years, as US-Canada trade talks revived expectations of a potential tariff deal.

The Trump administration is seeking an agreement with Canada on trade barriers, including lumber tariffs.

Removing these duties could increase US supply and weigh on prices.

The US Commerce Department previously lowered antidumping and countervailing duties on Canadian softwood to 24.75% from 35.16%, although a separate 10% tariff keeps the total rate at 34.75%.

Meanwhile, prolonged trade barriers continue to weigh on the already weak US housing market, while mill closures across North America could tighten supply.

Low prices and subdued demand may also prompt producers to cut output as profitability comes under pressure.

Housing demand remains constrained by mortgage rates above 7%, high construction costs and labour shortages, although rates have declined for a third consecutive week.



News Stream
Lumber Falls Toward 2-Year Low
Lumber futures fell below $526 per thousand board feet, moving back towards their lowest level in more than two years, as US-Canada trade talks revived expectations of a potential tariff deal. The Trump administration is seeking an agreement with Canada on trade barriers, including lumber tariffs. Removing these duties could increase US supply and weigh on prices. The US Commerce Department previously lowered antidumping and countervailing duties on Canadian softwood to 24.75% from 35.16%, although a separate 10% tariff keeps the total rate at 34.75%. Meanwhile, prolonged trade barriers continue to weigh on the already weak US housing market, while mill closures across North America could tighten supply. Low prices and subdued demand may also prompt producers to cut output as profitability comes under pressure. Housing demand remains constrained by mortgage rates above 7%, high construction costs and labour shortages, although rates have declined for a third consecutive week.
2026-11-05
Lumber Remains Near 2-Year Low
Lumber futures rose above $520 per thousand board feet, but held close to their lowest level in over two years, as traders weighed weakness in the US housing market against expectations of tighter supply. Housing demand remains constrained by elevated mortgage rates and higher construction costs linked to tariffs, although mortgage rates have eased for a second consecutive week. Meanwhile, Canada-US trade talks have resumed after collapsing in August, when tariffs on several wood products were introduced. Later in October, the US Commerce Department lowered antidumping and countervailing duties on Canadian softwood to 24.75% from 35.16%, although a separate 10% tariff keeps total duties at 34.75%. Persistent trade barriers continue to weigh on the market, while mill closures across North America could tighten supply. Low selling prices and subdued demand may also prompt mills to scale back production as profitability comes under pressure.
2026-11-02
Lumber Hits Lowest Level in Over 2 Years
Lumber futures fell below $515 per thousand board feet to reach its lowest level since September 2024, amid persistent weakness in the U.S. housing market and elevated input costs. The White House removed 50% tariffs on Canadian plywood, effective October 30th, though softwood lumber tariffs remained in place and elevated, potentially making plywood a relatively cheaper substitute in certain construction applications. While the Commerce Department lowered antidumping and countervailing duties on Canadian softwood to 24.75% from 35.16%, a separate 10% US tariff brings total duties to 34.75%. The US Lumber Coalition backed the decision, as forestry groups have long accused Canada of dumping lumber in the US. President Trump also signed an order aimed at reducing homeownership costs. The measures come as the U.S. housing sector remains under pressure from high mortgage rates and construction costs, with homebuilder confidence falling to its lowest level in 14 years.
2026-10-27