Lumber Prices Rise Sharply Despite Covid-19
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. Barron’s reports a near 60% jump for Q2 making up for the losses in the first quarter of the year. Unlike other sectors, production ramp-up times are far greater in sawmill production and will take some time to see production hit demand. A large backlog of existing business with less than expected duration of lower housing demands shows promise. Housing demand is a leading indicator of economic recovery.
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