Falling Lumber Prices

Well, lookee there, the price of 1000 board feet of lumber has fallen 60-70% over prices in January from a high of nearly $1700 USD now down to about $575. President Biden was soundly blamed for the exorbitant rise in the price of lumber by most so-called Republicans on here, so now is he going to be credited for it falling back to relatively normal levels? Haven't heard a peep on here about it falling... 😊

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PicturesOfABetterTomorrow · 41-45, M

My guess this is a direct result of things starting to open up more at the US/Canada border since we ship alot of lumber to you guys.

spjennifer · 56-60, T

@PicturesOfABetterTomorrow Quite probably, it's also due to more lumber mills producing more now that some States have reopened. Presidents don't control the price of lumber, or fuel.

PicturesOfABetterTomorrow · 41-45, M

@spjennifer No but they do control border trade which is why I figured it was the changes to cross border shipments.

spjennifer · 56-60, T

@PicturesOfABetterTomorrow From what I read it was mostly due to lower production rates and higher demand during the height of the lockdowns in lumber producing States and in Canada too.

PicturesOfABetterTomorrow · 41-45, M

@spjennifer If lumber prices are going down supply must be going up though. One of the few industries where that is actually happening.

spjennifer · 56-60, T

@PicturesOfABetterTomorrow Yes, with lockdowns ending in many places, production has gone back up and therefor supply has increased significantly which is the primary cause for the drop in price.

PicturesOfABetterTomorrow · 41-45, M

@spjennifer In other news the largest copper mine on earth is going on strike. I support their cause but it is going to mean stuff sucks here for awhile with already stupid electronics prices.