Lumber futures edged down to below $620 per 1000 board feet in the fourth week of November due to regular seasonal slowdown. Still, prices remain about 50% above an average November level as building activities continue due to mild autumn weather and as suppliers replenishing their stocks ahead of another season. Meantime, Northwest Hardwoods, one of the largest makers of hardwood lumber in North America filed for bankruptcy after shipments to China slowed amid trade disputes. Lumber hit an all-time high of almost $1000 on September 14th when building and renovation activity induced by COVID-19 lockdowns reached its peak.
Historically, Lumber reached an all time high of 1000 in September of 2020. Lumber - data, forecasts, historical chart - was last updated on November of 2020.
Lumber is expected to trade at 588.69 USD/1000 board feet by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 484.47 in 12 months time.