Lumber prices dive more than 40% in June, biggest monthly drop on record


A customer wearing a protective mask loads lumber at a Home Depot store in Pleasanton, California, Feb. 22, 2021.

David Paul Morris | Bloomberg | Getty Images

The great lumber bubble of 2021 has popped.

After a jaw-dropping rally this spring, lumber prices have come back down to earth as supply increased, speculative trading action cooled and homebuilding demand eased. Lumber futures have tanked 42% in June alone, on pace for its worst month on record back to 1978. The building commodity is down more than 13% in 2021, headed for the first negative first half since 2015.

At its peak on May 7, lumber prices hit an all-time high of $1,670.50 per thousand board feet, which was over six times…


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