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Lumber Prices Are Falling Fast, Lumber Enters A Bear Market with Price Down 20%


It seems like that the prices are falling down and that is happening from record highs, the reason is simply the economic reopening and that has redirected to the potential of pointing out that there is going to be an eventual return to normalcy, it seems like that the prices of lumber are falling back to earth, the future of delivery of July ended on Tuesday at a whopping $1,009.90 which is per thousand board of feet, it has seen a dip of 41% if you compare it to the record of $1,711.20 which happened in the early May and it is being observed that there has been a decline in the past 14 days when you talk about the past 16 trading days.

Lumber Prices Falling Fast

Lumber Prices Are Falling Fast

It seems like that the prices of cash lumber are also on a decline and on Friday it has been stated that prices are servicing to random lengths and it seems to be framing composite index and it is keeping the track of spot sales, it has dropped from $122 to $1324 which is the biggest decline to be ever recorded in a week and this pullback has come after the 6 weeks of raise in the index which rose by $124 which happened in the first week of May and this has been recorded, and this has been described as a chaotic rout and the sawmill managers seems to struggle as they are trying to provide customers with all of the quotes and this has been stated on Tuesday that the index has dropped from $114 to $1210,

It has also been stated by the economist and the investors that the prices of wood are getting higher and this can lead to the doom of the booming market of the housing market, this has raised the home prices and it seems like that the builders have stopped making the houses as they have not even installed the studs is the houses and it seems like that lumber has become the center of the inflation rate, lumber is becoming more and more unstable and that is affecting the different markets in the worst possible manner.

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Charitarth Ahlawat
Charitarth covers politics, crime, and entertainment stories throughout the state of West Bengal and North-East India. As a tri-lingual correspondent, he caters to Get India News.


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