Lumber prices update in Around

September 8, 2023

Your Weekly Construction Briefing

Last week’s price of benchmark lumber commodity item WSPF 2×4 hit US$420 MFBM, close to matching that of two years ago at $439. Compared to US$624 during the same week last year.

This graph shows year-over-year price trends for Western Spruce-Pine-Fir  KD in 2021, 2022, and 2023.

In general, steadily increasing lending rates has muted new housing construction and therefore lumber sales. Unlike late 2021 and into 2022 when prices shot up from US$400 to $1400 MFBM, Madison Lumber Report expects prices to remain on track between US $350 and $500 MFBM for the remainder of the year. 

Demand has been on solid ground recently. There is the expectation that construction-related demand will increase soon, and that after three years of price volatility there will be some answers regarding price trends. 

Source: Madison’s Lumber Reporter and BC Gov. Forest Products Weekly Prices

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