Lumber Prices Post Biggest–Ever Weekly Drop With Buyers Balking
- U.S. lumber futures have slid 40% from last month’s record
- ‘There was plenty of lumber available from the mills’
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Lumber futures posted their biggest-ever weekly loss, extending a tumble from all-time highs reached last month as sawmills ramp up output and buyers hold off on purchases.
Prices in Chicago fell 18% this week, the biggest decline for most-active futures in records going back to 1986. Lumber has has now dropped almost 40% from the record high reached on May 10.