by Calculated Risk on 8/03/2021 03:40:00 PM

Here is another monthly update on framing lumber prices.  

This graph shows CME random length framing futures through Aug 3rd.

Lumber is currently at $611 per 1000 board feet.  

This is down from a peak of $1,733, and down from $647 a year ago.

Click on graph for larger image in graph gallery.

Lumber price are down 6% year-over-year.

There were supply constraints over the last year, for example, sawmills cut production and inventory at the beginning of the pandemic, and the West Coast fires in 2020 damaged privately-owned timberland.  

The supply constraints have eased somewhat.

And there was a huge surge in demand for lumber (demand remains strong).