After a long series of up and down reversals, lumber prices are in a cooling period. As of early March, spot lumber prices have moved forward into the past — last reported at $370 per thousand board feet. It's a major tumble since January when prices were up 14% over the close of 2022, as Insider reported at the time. Sherwood Lumber told them that the "industry could actually find itself in an undersupplied market during the height of the building season."
Which is an example of why trying to follow markets point-by-point can be a frustrating experience. Now Yahoo Finance reports that the "days of pricier lumber may be over" and that in a note from UBS in February, a source said that most products would never be at pre-Covid prices again.
That seems odd, given how far prices are down. But it may not be an isolated view.
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