Finance

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

0


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…



Source cnbc.com

0 0 votes
Article Rating

Robinhood to pay $70 million for misleading customers and outages, the largest FINRA penalty ever

Previous article

As housing boom begins to fizzle, weekly mortgage demand falls

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Finance