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Analysis

Price of Lumber Plunges to Pre-Pandemic Level

Contractors stop stockpiling wood as rate hikes take steam out of demand.

If the chart of the weekly lumber futures price for the past two years was an EKG, the patient would be in need of a defibrillator, stat.

Lumber futures closed Monday at $410.80 per thousand board feet—which is back to where they started when the pandemic began. The cost of two-by-fours has plunged more than 70% from this year’s peak of more than $1,400 per 1K of board feet in March.

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Jack Rogers

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