Here is another monthly update on framing lumber prices.
This graph shows CME framing futures through June 1st.
Lumber price are up 240% year-over-year.
There are supply constraints, 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 there has been a huge surge in demand for lumber.
Note that the tariffs on Canadian lumber were reduced late last year from 20% to 9%, but last week, the Commerce Department released a preliminary report that might lead to raising the tariffs again.
What's your reaction?