Lumber Prices Rise to Start 2017

The price of lumber, from framing to structural panels, has increased in recent weeks with some prices rising more than 30%. Since the start of 2017, the price of framing lumber is up 15%. In the three weeks between January 27 ^th and February 17 ^th, prices increased by 5% per week, on average. To put that in perspective, consider that the average weekly price change over the course of 2016 was +0.2%.  Though prices have increased in the aggregate, the composite index masks the magnitude of some of the most volatile, species-specific increases.

Canadian softwood lumber imports are predominantly Spruce-Pine-Fir. Speculation of retroactive duties being imposed on Canadian imports began in late January, as evidenced in a two-week, 12% increase in March delivery lumber futures. Producers hiked prices by double-digits on the heels of the futures price changes. The framing lumber composite price rose $25 between February 3 ^rd and February 10 ^th, the largest one-week increase since August 2003. Click here to read more.