by Calculated Risk on 9/07/2021 10:51:00 AM

Here is another monthly update on framing lumber prices.  

This graph shows CME random length framing futures through September 7th.

Lumber was at $680 per 1000 board feet this morning.  

This is down from a peak of $1,733, and up from $640 a year ago.

Click on graph for larger image in graph gallery.

Lumber price are up 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 (and maybe again in 2021).  

The supply constraints have eased somewhat.

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