Lumber prices surged above $800 per thousand board feet in December, extending last’s month rally to a level not seen since September 15, as the wave of renovations and home building continues to outpace seasonal averages thanks to builder-friendly winter weather. Still, the Commerce Department has decided to reduce its tariffs on shipments of Canadian lumber into the US, creating some downward pressure on prices.
Historically, Lumber reached an all time high of 1000 in September of 2020. Lumber - data, forecasts, historical chart - was last updated on December of 2020.
Lumber is expected to trade at 796.82 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 655.75 in 12 months time.