by Calculated Risk on 9/01/2020 12:00:00 PM

Here is another monthly update on framing lumber prices.   Lumber prices are up 150% year-over-year.

This graph shows two measures of lumber prices: 1) Framing Lumber from Random Lengths through August 28, 2020, and 2) CME framing futures.

Click on graph for larger image in graph gallery.

Right now Random Lengths prices are up 156% from a year ago, and CME futures are up 144% year-over-year.

There is a seasonal pattern for lumber prices, and usually prices will increase in the Spring, and peak around May, and then bottom around October or November - although there is quite a bit of seasonal variability.

Clearly there has been a surge in demand for lumber and the mills are struggling to meet demand.

This is the highest price for both Random Lengths lumber and futures.