by Calculated Risk on 1/04/2026 08:12:00 AM
Here is another update on lumber prices.
This graph shows CME random length framing futures through August 2022 (blue), and the new physically-delivered Lumber Futures (LBR) contract starting in August 2022 (Red).
On January 2, 2026, LBR was at $534.00 per 1,000 board feet, down 1.6% from a year ago.
Click on graph for larger image.
There is somewhat of a seasonal demand for lumber, and lumber prices frequently peak in the first half of the year.
The pickup in early 2018 was due to the Trump lumber tariffs in 2017. There were huge increases during the pandemic due to a combination of supply constraints and a pickup in housing starts.
Now, even with the tariffs, prices are mostly unchanged year-over-year suggesting weak demand for framing lumber.
