{"id":79538,"date":"2020-07-27T10:02:40","date_gmt":"2020-07-27T10:02:40","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/why-the-us-lumber-prices-have-increased-by-60\/"},"modified":"2025-09-19T08:53:44","modified_gmt":"2025-09-19T08:53:44","slug":"why-the-us-lumber-prices-have-increased-by-60","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/why-the-us-lumber-prices-have-increased-by-60\/","title":{"rendered":"Why the US lumber prices have increased by 60%?"},"content":{"rendered":"<div class=\"article-content\">\n<p><em>US lumber prices made a big comeback in the second quarter, with a nearly 60% jump for the period more than making up for a loss in the first three months of the year, as home builders rebounded from the initial effects of the pandemic.<\/em><\/p>\n<p>Lumber prices and their rapid rise, particularly in the three weeks ended on July 2, have exposed an industry that was or is \u201cunderinventoried to meet current demand,\u201d says Greg Kuta, president of lumber broker Westline Capital Strategies.<\/p>\n<div class=\"paywall\">\n<p><a href=\"https:\/\/timberindustrynews.com\/wp-content\/uploads\/2025\/09\/lumber-1-110.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-24016 alignleft\" src=\"https:\/\/timberindustrynews.com\/wp-content\/uploads\/2025\/09\/lumber-1-110-300x191.jpg\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/timberindustrynews.com\/wp-content\/uploads\/2025\/09\/lumber-1-110-300x191.jpg 300w, https:\/\/timberindustrynews.com\/wp-content\/uploads\/2025\/09\/lumber-1-110.jpg 739w\" alt=\"\" width=\"300\" height=\"191\" \/><\/a>Most-active lumber futures\u00a0LBU20,\u00a0+0.06%\u00a0gained 56.5% in the second quarter, following a loss of more than 31% in the first quarter. In the three-week period ended on July 2, prices climbed by roughly 28%. They settled at $481.90 per 1,000 board feet on Thursday.<\/p>\n<p>When COVID-19 entered the picture, the \u201censuing economic calamity\u201d shut down all sectors, including residential construction, and the \u201cuncertainty significantly disrupted the perception of future demand and the consumption of lumber,\u201d Kuta says. The \u201cproduction side witnessed a complete collapse of takeaway and, in turn, was forced to make the hard decision of curtailing production in an attempt to match the immediate collapse in demand.\u201d<\/p>\n<p>Against that backdrop, Canadian lumber shipments to the U.S. for the second quarter, year on year, were down by just under 19%, leading to lumber\u2019s \u201cexplosive rally off of the April lows,\u201d says Kuta.<\/p>\n<p>He points out that the idea of \u201cstopping and then restarting production, similar to flipping a light switch on\/off, doesn\u2019t work in the real world of sawmill production.\u201d It takes weeks to bring curtailed output back online as the industry moves to rehire laid-off workers, retool equipment, and rebuild the transportation chain to ship the wood out of the mills, he says.<\/p>\n<p>Meanwhile, \u201cthe backlog of existing business (on the books pre-COVID-19) proved to be very large,\u201d and the expected void in housing and lumber demand has been \u201cless severe in both quantity and duration throughout the ongoing pandemic,\u201d says Kuta, adding that housing demand has been a leading indicator back to the upside.<\/p>\n<p>U.S. construction of new houses\u00a0climbed by 4.3% in May to an annual rate of 974,000, up from a five-year low of 934,000 in April, according to government data.\u00a0New-home sales, meanwhile, rose\u00a0nearly 17% to a seasonally adjusted annual rate of 676,000 in May.<\/p>\n<p>\u201cThe housing metrics coming out of the first wave of the virus show an insatiable need for housing and have exposed the major issues that existed pre-COVID that still exist today\u2014a shortage of existing-home inventory, a finite housing labor pool to actually build new homes, and a shortage of entry-level homes to satisfy the entry-level home buyer,\u201d says Kuta. Historically low mortgage rates also help to boost housing demand, he says.<\/p>\n<p>Based upon the annual review earlier this spring by the U.S. Commerce Department, spruce-, pine- and fir-producing sawmills in Canada will see their duty rate reduced by about 50% starting on Oct. 1, says Kuta. That will cut their production costs by about $30 to $35 per 1,000 board feet and help profitability\u2014and bring both eastern and western Canadian sawmill production back online for the rest of 2020 and into the first quarter of next year, he says.<\/p>\n<p>Despite that, the trend for lumber prices is still up, until demand begins to \u201cshow signs of slowing and production catches up with existing demand,\u201d says Kuta, who sees prices in the range of $300 to $500 for the rest of 2020. There\u2019s potential to move higher, but \u201cthe ability to maintain these numbers and not see a bigger correction into the back half of the year is questionable, at best, especially heading into the November election.<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>US lumber prices made a big comeback in the second quarter, with a nearly 60% jump for the period more than making up for a loss in the first three months of the year, as home builders rebounded from the &hellip; <a href=\"https:\/\/www.timberindustrynews.com\/ro\/why-the-us-lumber-prices-have-increased-by-60\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":57999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4713,4716,4715,4714],"tags":[3306,3286,3252],"class_list":["post-79538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-in-the-timber-industry","category-latest-trends","category-market-analysis","category-wood-industry-prices","tag-lumber","tag-prices","tag-us","topic-forestry","topic-sawmilling","area-north-america"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why the US lumber prices have increased by 60%? 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