Lumber prices shoot up again

Lumber prices have shot up again in a rise reminiscent of a year ago, when high-climbing wood prices warned of the hinky supply lines and broad inflation to come.

Futures for January delivery ended Friday at $1,089.10 per thousand board feet, twice the price for a prompt delivery in mid-November.

Lumber prices have a way to go before they threaten the records set in spring, when futures hit $1,711.20. Still, lumber prices with a comma were unimaginable before the lockdown, when mills were caught off guard by do-it-yourself and home-building booms and all the decks needed to facilitate outdoor dining. 

Flooding in British Columbia has cut off sawmills from forests and customers, unusually warm autumn weather has extended the building season and wood buyers are loading up in fear of further price increases and supply problems. The floods sent prices higher for the northwest’s spruce, pine and fir.

Lumber prices skyrocketing during coronavirus pandemic | KEYE

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