Lumber prices surged above $900 per thousand board feet in the fourth week of December, extending last’s month rally to a level not seen since September 15, as the wave of renovations and home building continues thanks to builder-friendly winter weather. On top of that, lumber mills are closing for maintenance as they head into the slower winter building season, which has tightened near term supply and supercharged bullish sentiment.
Historically, Lumber reached an all time high of 1000 in September of 2020. Lumber - data, forecasts, historical chart - was last updated on December of 2020.
Lumber is expected to trade at 828.77 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 682.05 in 12 months time.