by Calculated Risk on 11/08/2022 11:19:00 AM

Here is another monthly update on framing lumber prices.

This graph shows CME random length framing futures through November 8th.

Lumber was at $447 per 1000 board feet this morning.  

This is down from the peak of $1,733, and down 33% from $663 a year ago.

Prices are close to the pre-pandemic levels of around $400.

Click on graph for larger image.

There is somewhat of a seasonal demand for lumber, and lumber prices usually peak in April or May, although prices peaked much earlier this year.

It is unlikely we will see a runup in prices as happened at the end of last year due to the housing slowdown.