North American lumber surged again as supplies shrink

Posted on February 16, 2022   |  

• Lumber futures have recovered from recent losses, rising a maximum of $45 by the exchange for six straight sessions, reaching $1,204.90 per 1,000 board feet on Wednesday, the highest in three weeks.
• Lumber prices have been volatile since the start of the pandemic and hit record highs as demand for buildings swelled by Covid-19, but sawmills plummeted as production ramped up and higher prices dampened demand.