Futures for July delivery ended Monday at $996.20 per thousand board feet, down 42% from the record of $1,711.20 reached in early May. Futures have declined 14 of the past 15 trading days, the last two by the most allowed by exchange rules.
Cash lumber prices are also crashing. Pricing service Random Lengths said Friday that its framing composite index, which tracks on-the-spot sales, dropped $122 to $1,324, its biggest ever weekly decline. The pullback came just six weeks after the index rose $124 during the first week of May, its most on record. Random Lengths described a chaotic rout in which sawmill managers struggled to provide customers with price quotes.
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CoelloCrusaders JohnnyJabo
Mills only produce so much per week. And users consume same thru channels. What you have now are holders ( i.e. brokers ) of individual loads scrambling to sell to any one their commitments to buy that are ready now but priced weeks ago. Mills never had it so good so good.
Wait until you see all the buyer's remorse over home prices stabilizing!
Is The Manipulation Too Much? Rehypothecation RepurchaseAgreements ETFshorts NakedShorts FailuretoDeliver FINRAviolations CounterfitShares DarkPoolManipulation BrokenSystem RiggedMarkets NoEnforcement
So does anyone really believe this.
thanks
stratorat79 Not to mention lumber companies Board of directors do not sound like they are going to reduce prices at all. It’s a shame they’re the only ones getting rich in the entire process
stratorat79 What country are you living in where lumber prices have dropped? Two by fours are still almost 9 dollars for junk Home Depot and Lowe’s quality boards!
Cheaper to build with steel right now. Stronger and lasts longer.
Oh, my. What will GQP complain about with prices dropping as supply catches up to demand. SenRickScott will be frantic until GQP gives him instructions.
Beautiful example of pump and dumps! Remember the 'silver squeeze'? Hahahha thank You financial media aka FUDSTERS for trying to dissuade people from buying AMC and GME! Who buys wood as an asset unless youre a builder!
Good, because it went up 42%
I want an investigation! If their forecasting because people can spend money on other things like travel, maybe. I’m not seeing a decrease in demand and I’m not buying the shortage excuses. Price gouging pure and simple!
Cool. Let’s do steel next.
Stained the deck today. Replaced the floor boards last fall. Guess that was lucky timing.
I bought OSB in quantity in summer 2020 for a project at $7.50 an 8x4 sheet. Today, it's $65-$100 a sheet. And I had 25 sheets burnup in the AugustComplexFire last Sept.
sachinkamath read this
Here is what I got for $1130.00 Insane...
How them tariffs treating y’all
Hoarders ruin everything.
Well, I’m so glad I got my deck rebuilt LAST YEAR. It was a good contractor COVID job.
It’s all a big shell game.
Not here!
kirkbond10
Invest in nails
لقد رأى محمد قاسم النبي محمد صلى الله عليه وسلم بالغ الحزن والقلق على حالة الأمة الإسلامية. العديد من الأحداث التي تنبأ بها قاسم في رؤاه عن المستقبل ترتبط أيضًا بالأحداث في الاحاديث النبوية. لمعرفة المزيد قم بزيارة موقع أو ابحث عن ‘Muhammad Qasim Dreams’
Time to start remodeling again! We can help!
Thanks, Joe Biden!
Nice
Hmm, maybe the press shouldn't haven't contributed to the panic. Actual journalism would have explained it'll take a while to get things up & running after a pandemic + you can't compare prices to last yr as usual instead of feeding into the 'inflation' frenzy.
Home builders? WTF are you talking about nobody can afford a home.
let me know when price of cement goes down…
سقوط تركيا ودول الشرق الأوسط قريبًا. رأى محمد قاسم رؤية مفادها أن الحرب ستبدأ في تركيا مع دول الغرب وستدمر الشرق الأوسط تدريجياً. لمعرفة المزيد قم بزيارة موقع او ابحث عن Muhammad Qasim Dreams
TIMBERRR
So does this mean the housing bubble going to pop too?
Where are they falling? I’m at one of a few lumber suppliers everyday and they ain’t falling anywhere
theWalrusStreet you probably already saw this, but it looks like a lot of companies were loading up on lumber in case of shortages. Definitely something to look into
It’s not going to mean anything because the greedy companies will keep the high prices.
You could have worked timber into your headline but I guess we just don't have standards anymore
Should have waited to get that pergola installed! 🤣
WSj confirms there was never an actual lumber shortage, just hoarders and price gouging. Americans trying to cheat their fellow Americans.
Tell that to my local lumber yard.
THANK GOD!!! the price of lumber was INSANE!!! $70 for one 8 ft. board at Lowe’s BLEW MY MIND!!!
it has nothing to do with anything except greed of the 4 major sawmills stockpiling to increase profits-and lumber being able to be gambled on by suits in NYC who dont care how much a 2x4 costs as long as they can short the futures...
I just wish I could find a contractor to work me into their schedule.
No reason for it to peak and valley,
Buy the dip!
Sure, let's cut down more trees
It means the economy is on a roller-coaster without an operator. It may seem bad one day perfect the next and have 1920 depression the next. Problem? Biden administration creates greed. Solution? Trump.
fabulous, my house burnt and I have no choice.
Wooohooo! Except it’s too hot now to do outdoor home projects. Never mind.
Good
I had a deck replacement priced back in February. By May, lumber had tripled. I cancelled. What happened is the buyers got greedy, and no doubt priced a lot of vendors and contractors out of the market because customers were not going to pay 2, 3, 4x or more for their projects.
I just need a new deck before mines falls off my house! Hurry up and go down damn it!!
Bull crap...anyone seen lower prices Not here...
This makes no sense....unless that crop report....!!!! lumber
houses should be built from brick
Finally
.
Save
Yesterday prices were rising. 🙄
the FED cancelled inflation today
It’s no joke.I know because I buy lotsa lumber as a contractor purchaser..A sheet of Birch plywood that was $40 two years ago is now $85..With solid hardwoods(walnut,mahogany,ipe)those prices have tripled… Not a good time to build a home… Really..
Where....home Depot.....piece of plywood $74, $8 2x4
It came down 40 percent but went up 300 percent. So what the hell is 40 percent? When a 2x4x8 isn't 12 bucks but about 3 bucks then I'll believe it
Yeah no shit. Umm who didn’t expect this? Please tell me. By the way, what happened to the supposed inflation? It’s artificial inflation as seen here with lumber.
Lol, been saying....this is an inflated inflation period only.
Do steel next
Now do insulin
Looks likke you haven' been in Home Depot lately
So this was only a money play?
🙄
I just want a privacy fence , I’m happy to wait for panels to drop back down in price.
JamesPrigioni it's time to start building wooden raised bed garden beds again! The age of steel is over, maybe?
I've been taking pictures of 2x4x96 prices over the last month+ as we've been buying them to remodel. Can't wait for the prices to come back down!
Pass time to look at infrastructure as more than… bridges?! Well then, Wooden Ferris Wheels for every state.
People were warning this was a big year over a bad year and thus not reflective of reality. Here we see what happens when one takes the micro view over the macro.
It wood have been good to wait a few weeks.
Lie.
Toilet paper, hand sanitizers, antibacterial disinfectants, doge coins, lumber…if pandemic has taught us anything, it’s that what comes up will always come down
Sure... It’s “yard waste” day in our neighborhood and someone* drove around picking up wood for our fire pit. *That someone is me, and I just saved about $50 in firewood (as priced in urban, burning dollars, terms).
That's almost a normal headline. 😐
Pre Corona 2*4 lumber $2 to Peak Corona $10 now. Consumer exuberance based on Greed. Who will beat exuberance race? Economics or Politics.
Great! Was nuts to buy a 2x4 for $8
Supply and demand works , it takes time thou
So when FED said the inflation will be temporary, they knew what they were talking about? That won’t do. We can’t have a FED like that.
Wtf am I going to do with this backyard full of plywood? gigantictreehouse
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