by Calculated Risk on 6/22/2025 08:48:00 AM
This is something to watch again. Here is another monthly 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 June 20, 2025, LBR was at $616.00 per 1,000 board feet, up 36% from a year ago.
There is somewhat of a seasonal demand for lumber, and lumber prices frequently peak in the first half of the year.
Note that last year prices bottomed in early July at $449.00 per 1,000 board feet, so the next few weeks will be the most difficult year-over-year comparison.
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.
