Lumber prices are falling fast

[RR 314]

Futures pricing will take a little while to reach the market. I would expect to start seeing declines at the big box stores in another month or so.

I was hoping a bit sooner. Opening up back of house and need to frame out three temporary walls and install LVLs. Hoping for a crash between now and next week.

[stickemhard3]

Best news I've heard in a while. My construction loan opens on 6/21 so this is great news.

[myway]

Lumber prices killed new home construction, so prices are falling due to decreased demand. The market wins again!

Killed it? It was at a 15 year high where was it gonna go? I believe permits have continued to increase have they not?

[Geezy Rider]

Oh perfect...now that I’ve got all my wood building projects finished. Timing is everything.

[Geezy Rider]

Lumber prices killed new home construction, so prices are falling due to decreased demand. The market wins again!

I wish...sure didn’t stop anybody, didn’t even slow them down, from building duplexes right across the road from me. Who the hell builds duplexes in the country???

[JhuntsAlot]

Dang, 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

[88 Bound]

I wish...sure didn’t stop anybody, didn’t even slow them down, from building duplexes right across the road from me. Who the hell builds duplexes in the country???

Where else are all the NY and CA transplants supposed to go?

[SaintBlaise]

When is steel going to follow?

[cj7zrcool]

Two 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.

Random Lengths has printed down the last three weeks on Yellow Pine & SPF. Last week 2x6 #2YP was down $188/K...which equates to $0.188 a linear foot, or a $1.88 on a 10'er.

Retail or wholesale pricing is based off of replacement cost and that doesn't mean future pricing...yet.

I 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.

Anything OSB related is not included in any cost declines. 7/16" was up another $10/K...or $0.32/sheet and will probably continue to go up through the summer and into fall.

I’m hopeful. Would like to build a gabled pergola, but I ain’t doing it at current lumber prices.

Cedar isn't coming down either.

It'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..."

Lumber & structural panels have been increasing in cost virtually every week for the last 15 months, so I wouldn't really call that an "instant" jump.

Lumber prices killed new home construction, so prices are falling due to decreased demand. The market wins again!

Not in North or Central Texas, it hasn't.

[c3products20]

I wish...sure didn’t stop anybody, didn’t even slow them down, from building duplexes right across the road from me. Who the hell builds duplexes in the country???

Investors!

[c3products20]

When is steel going to follow?

No kidding!!!

[tps7742]

I think timber futures around $250.00 before this pre pandemic mess?

[dpg481]

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.

[Sethmac]

Read this this morning...can't come soon enough..projects to do!

[Dusty Britches]

.... $51 now at Lowes for a 4x8 sheet of 7/16 OSB. That's a $7.X piece of lumber pre covid.

Two weeks ago I saw 3/4" plywood at $98 at HD.

Dang, 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

This morning on AG news they were talking about how high soybeans are getting and they expect that to drive down corn prices. Brazil in in a drought and their soybean supply is down. Brazil and the US are the largest soybeans producers in the world and China is the largest buyer. I say sell to everyone but China and put that dog in his place.

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.

Yes, copper prices have been $4.25-$4.90 for several months. I need to sell my scrap copper before it drops.