Lumber futures climbed close to USD 600 per 1,000 board feet in early June, reaching their highest level since April 2026. On June 3, prices stood at USD 597.50 per 1,000 board feet, up 1.53% on the day, 4.09% from a month earlier and 1.00% higher than a year ago.<\/p>\n
The recent increase has been driven primarily by supply-side factors. Domestic US production has not fully compensated for lower Canadian shipments, while Canada continues to account for a significant share of US lumber supply.<\/p>\n
Trade measures have also supported prices. Although proposed combined duties on Canadian lumber were reduced to 24.8% from 35.2%, the additional Section 232 tariff keeps the effective burden close to 35%. At the same time, wildfires and production disruptions in parts of Canada have further tightened supply.<\/p>\n
Despite the rise in lumber prices, demand indicators remain relatively weak. US new home sales fell 6.2% in April to an annualised rate of 622,000 units, while single-family housing starts declined 9.0% to an annualised pace of 930,000 units. These figures suggest that the recent rally is being driven more by concerns over availability than by a recovery in construction activity.<\/p>\n
Over the past month, lumber futures have gained approximately 4%, recovering from the softer levels seen in early May. However, prices remain far below the record high of USD 1,711.20 per 1,000 board feet reached during the pandemic-driven market disruption in May 2021.<\/p>\n
Market participants continue to monitor developments in US-Canada trade relations, wildfire risks across Canadian timber-producing regions and the outlook for US housing construction. Any further supply disruptions could keep prices supported in the short term, even if housing demand remains subdued.<\/p>\n
According to Trading Economics forecasts, lumber prices are expected to ease to around USD 582.99 per 1,000 board feet by the end of the current quarter and to approximately USD 536.80 over the next 12 months, suggesting that the market still anticipates some correction after the recent advance.<\/p>\n
| Reference point<\/th>\n | Price<\/th>\n | Visual trend<\/th>\n<\/tr>\n<\/thead>\n | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 12 months ago<\/td>\n | USD 591.6<\/td>\n | \n \n 591.6<\/div>\n<\/div>\n<\/td>\n<\/tr>\n 1 month ago<\/td>\n | USD 574.0<\/td>\n | \n | \n 574.0<\/div>\n<\/div>\n<\/td>\n<\/tr>\n May 15, 2026<\/td>\n | USD 593.5<\/td>\n | \n | \n 593.5<\/div>\n<\/div>\n<\/td>\n<\/tr>\n June 3, 2026<\/strong><\/td>\n | USD 597.5<\/strong><\/td>\n | \n | \n 597.5<\/strong><\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":" Lumber futures climbed close to USD 600 per 1,000 board feet in early June, reaching their highest level since April 2026. On June 3, prices stood at USD 597.50 per 1,000 board feet, up 1.53% on the day, 4.09% from … Continue reading |