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Lumber prices jump as shipments drop due to floods in Canada
Posted on December 3, 2021 |
Lumber futures in Chicago witnessed a robust 6.3% surge, reaching $757 per 1,000 board feet—a level not seen since October 25.
Sawmills are leveraging the consequences of floods and mudslides to elevate lumber prices, generating favorable outcomes for their operations.
The repercussions of floods and mudslides have significantly hampered lumber supplies, primarily due to the blockage of Canada's major railway tracks and ensuing disruptions in accessing the Port of Vancouver.