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US lumber prices saw a decline of 21% for the 8th straight day in February
Posted on February 17, 2023 |
Lumber futures fell by 3% to $402 per thousand board feet on Tuesday, and the essential building commodity suffered an 8-day losing streak that erased 21% off of futures' pricing.
However, analysts expect a reversal in the lumber market in the coming months as the busy homebuilding season heats up, which means lumber prices could bounce back above $500 per thousand board feet.
if the strong homebuilder's confidence seen in January proves sustainable, many lumber suppliers will be flat-footed, which would set the stage for another seasonal rebound in lumber prices.