Chicago lumber futures traded below $680 per thousand board feet, less than half of a record high of $1,711.2 hit in May but still well above pre-pandemic levels of around $400 on supply constraints and an uptick in demand. A tight labor market and wildfires in western Canada led to transportation problems and expensive logs while the drop in prices brought DIYers back into force.
Historically, Lumber reached an all time high of 1711.20 in May of 2021. Lumber - data, forecasts, historical chart - was last updated on October of 2021.
Lumber is expected to trade at 908.79 USD/1000 board feet by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1139.19 in 12 months time.