Lumber Prices Record Biggest Weekly Drop Ever

[OHJEEZE]

Considering only a handful of companies control the supply of lumber, I doubt we will ever see prices that low again. I hope I’m wrong. Make you wonder if the supply was artificially exaggerated recently.

Do not forget all the futures traders at the Chicago Merchantile Exchange that are trying to profit from the lumber price.

There are many futures traders that have no desire or the means to take delivery of the contract they are buying!

They only exist there to buy a contract and hope the price goes up, then sell it before it ends.

A bunch of futures traders can really jack the price up!

 

[Dale00]

I saw a truck loaded with lumber on the highway today...and there was no armed escort....so the price drop news must be true

 

[Oklahomabassin]

Any improvement?

 

[tyromeo55]

I have my shop build in a holding pattern waiting on lumber to settle. In the past couple weeks 7/16 osb has basically went down by half. It was $51+ for quite a while and as of late last week $26 ish.

 

[Perplexed]

For some types of lumber, yes. But not for others - I got a quote last week for 4/4 white oak lumber, which was about $9 per bf. Still pretty high.

 

[jakeman]

They’re gonna make it up on brick.

Was expecting 14,000 on Wednesday. We call to check on the delivery time today. How’s October strike ya?

Geez. I was gonna start the next one when I finished this one, but I’ve decided to wait until things settle down. Lots are paid for. They ain’t costing me anything to just sit there. It hasn’t been one thing, it’s been everything. Materials, subs, appliances, wire, pex, framers, plumbers, rock hangers, etc, etc, etc.

I may still be working on this one next August. This is wearing me slick.

 

[cowzrul]

I finally pulled the trigger on my home build. Thinking by the time we get to slab prices will be down about as good as its going to get for awhile. Of course my crystal ball is broken.

 

[SlugSlinger]

This guy has some good updates on pricing. He’s in Oregon, but buys from big box stores.
He has a good update from this morning:

 

[OHJEEZE]

I finally pulled the trigger on my home build. Thinking by the time we get to slab prices will be down about as good as its going to get for awhile. Of course my crystal ball is broken.

How many courses of block are you laying up for your basement?

 

[bigred1]

I finally pulled the trigger on my home build. Thinking by the time we get to slab prices will be down about as good as its going to get for awhile. Of course my crystal ball is broken.

I've got my eye on your home build posts...