Originally posted by Gclyde28
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Lumber prices are falling fast
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Originally posted by ultrastealth View PostLumber prices killed new home construction, so prices are falling due to decreased demand. The market wins again!
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Originally posted by Dusty Britches View PostTwo consecutive days of limit down on cash price.
The Wall Street Journal June 15, 2021
Lumber prices are falling back to earth.
Futures for July delivery ended Monday at $996.20 per thousand board feet, down 42% from the record of $1,711.20 reached in early May. Futures have declined 14 of the past 15 trading days, the last two by the most allowed by exchange rules.
Cash lumber prices are also crashing. Pricing service Random Lengths said Friday that its framing composite index, which tracks on-the-spot sales, dropped $122 to $1,324, its biggest ever weekly decline. The pullback came just six weeks after the index rose $124 during the first week of May, its most on record. Random Lengths described a chaotic rout in which sawmill managers struggled to provide customers with price quotes.
Retail or wholesale pricing is based off of replacement cost and that doesn't mean future pricing...yet.
Originally posted by ken800 View PostI paused a fence... deck... and so on. I've not bought a single piece of lumber in a year. Worked on everything else. I've been watching this as well and hoping enough people stay on the sidelines and refuse to pay the crazy prices until they come back to Earth. $51 now at Lowes for a 4x8 sheet of 7/16 OSB. That's a $7.X piece of lumber pre covid.
Originally posted by Playa View PostI’m hopeful. Would like to build a gabled pergola, but I ain’t doing it at current lumber prices.
Originally posted by ken800 View PostIt's the old Gas story... Prices of gas at the pump jump instantly on any geopolitical issues then they slowly creep back down. When asking why, it's because they have to sell off the expensive stuff that is already in the channel. My question is always, "Why, then, did prices jump instantly? There was cheap gas in the channel..."
Originally posted by ultrastealth View PostLumber prices killed new home construction, so prices are falling due to decreased demand. The market wins again!Last edited by cj7zrcool; 06-15-2021, 11:36 AM.
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Has anyone priced Romex lately? The last roll I bought for our house build was in January, and that set me back $75 for a 250ft roll. Last week that same roll at the Depot was $289.00. We were about to start a 7500 sqft barndo, but that had to be put off until we can get back to being able to afford it.
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Originally posted by ken800 View Post.... $51 now at Lowes for a 4x8 sheet of 7/16 OSB. That's a $7.X piece of lumber pre covid.
Originally posted by JhuntsAlot View PostDang, I hope so. Ridiculous how high it got/is.
Now if the same good news can happen for corn prices. Paying $10 a bag might make me take this year off. Was already an "expensive to me" addiction before the increase.
J
Originally posted by dpg481 View PostHas anyone priced Romex lately? The last roll I bought for our house build was in January, and that set me back $75 for a 250ft roll. Last week that same roll at the Depot was $289.00. We were about to start a 7500 sqft barndo, but that had to be put off until we can get back to being able to afford it.
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