Market Updates
Lumber Drops to $829 As Renovation Demand Plunges
Hossain Akhtar
12 Apr, 2022
New York City
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Lumber prices fell to a new 2022 low and extended 5-week drop to 40% as demand for renovation plunges. Supply also improved from saw mills after railcar bottlenecks were solved in western regions. The price fell 6% to $829 per thousand board feet following 8.4% fall a day ago. The DIY market, about 40% of the lumber demand, has been struggling as home owners are battling higher energy prices.
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