[ZERO] Lumber prices have hit $1,000 per thousand board feet, an all-time high in recent weeks, and could extend gains this year as homebuilding and renovation demand outstrips production. Soaring lumber prices have greatly added to construction costs over the last year and could stifle the number of planned residential construction projects across the US.
"Production is going to have a hard time keeping up with demand growth as the world economy bounces back from Covid-19 in 2021-22," Paul Jannke, Forest Economic Advisors LLC.'s principal of lumber, said during a conference this week who Bloomberg quoted. He believes average lumber prices will remain elevated. |