The prices of softwood lumber quoted on the Chicago Mercantile Exchange can be used as a regressor to estimate the trend of customs prices for lumber in the European market. The prices of CME lumber tend to influence the physical prices of the European softwood lumber market with a delay of about 60 days. Softwood lumber Within the softwood lumber market, an important reference benchmark is given by the price of the lumber future contract quoted on the Chicago Mercantile Exchange (CME). This price refers to lumber in the American market, which has undergone significant fluctuations in recent ...