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The price of lumber per thousand board feet is at $1,044, according to Random Lengths. That's an all-time high, and up 188% since the onset of the pandemic.
Spot lumber prices have plummeted 75% from their May 2021 record high of $1,514 per thousand board feet to just $366 this week, roughly matching pre-pandemic levels, according to Random Lengths ...
In the last six months average lumber prices have ranged from $475 to $625 per thousand board feet, about one-third the peak in 2021. Trump has threatened to add 25% tariffs on goods from Mexico ...
The board foot or board-foot is a unit of measurement for the volume of lumber in the United States and Canada [1]. It equals the volume of a board that is one foot (30.5 cm) in length, one foot in width, and one inch (2.54 cm) in thickness, or exactly 2.359 737 216 liters .
Timber is the main one, with prices that range from a few hundred dollars per thousand board feet (MBF) to several thousand dollars for a veneer log. Others include grazing and fodder, specialty crops such as mushrooms or berries, usage fees for recreation or hunting, and biomass for bioenergy production.
The Willamette's timber sales continued at about 750 million board feet (1,800,000 m 3) per year through the 1970s; however, the price bid per thousand increased dramatically. This price speculation led to timber sale defaults and sale buy-backs in the early 1980s. The volume not cut in the early 1980s was resold in the latter half of the decade.
Lumber hit an all-time high of $1,686 per thousand board feet this month, surging by 406 percent from the $333 it was trading at the same time last year.
In July 2020, gold futures broke the US$2,000 per ounce level for the first time in history. [70] In August 2020, lumber prices, as defined by the CME one-month futures contract, broke the old historic record high of US$651 per thousand board feet, to reach US$1711 in May 2021. [71]