[AT] Lumber Prices may be easing

[Howard Pletcher]

>From a news summary I get:

Lumber futures fell for the fifth straight day on Friday in the longest
losing streak for the commodity in 2021.

The fall brings a reprieve for home builders who have been struggling with
surging commodity prices
<https://www.businessinsider.com/why-is-lumber-so-expensive-homebuilding-real-estate-newbuild-inventory-2021-3?utm_source=markets&utm_medium=ingest>
for
over a year now.

>From corn to copper
<https://markets.businessinsider.com/news/stocks/corn-copper-lumber-wheat-price-commodities-have-surged-2021-inflation-2021-5-1030397643?utm_source=markets&utm_medium=ingest>,
a number of commodities have been on fire since last year, but none more
than lumber. Lumber spot prices are up roughly 78% since the start of 2021
and more than 350% in the past year.

Lumber futures <https://www.bloomberg.com/quote/LB1:COM> reached a record
high of $1,670.50 per thousand board feet last Friday while lumber spot
prices
<https://markets.businessinsider.com/commodities/lumber-price'?utm_source=markets&utm_medium=ingest>
traded
as high as $1,686 per thousand board feet.

This Friday, futures dropped to around $1,400 per thousand board feet while
spot prices are trading around $1,550.

Lumber stocks, which have been on a bull run since mid-2020, are seeing a
mild sell-off as a result.


But don't hold your breath waiting for 2018 prices!

Howard
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