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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.