What has changed since mid-July? As of mid-August 2025, the North American lumber market shows modest week-over-week gains in the framing composite price, softer one-month futures trends, and easing upstream cost pressures. Liquidity in the futures market has declined, pointing to subdued speculative interest.
Market Snapshot – Mid-August 2025
- Framing Lumber Composite: For the week ending August 8, the composite price rose 0.7% week-over-week and stands +15.1% above August 2024. Source
- CME Lumber Futures: On August 14, futures were at approximately $612.50 per 1,000 bdft, down around 6.1% from one month earlier. Source
- Futures Volume / Open Interest: On August 14, estimated volume was ~1,060 contracts and open interest was ~7,429, both lower compared to early August. Source
- PPI – Lumber: The Producer Price Index for lumber in July 2025 was 264.031, down from 266.347 in June. Source
🔍 Key Market Drivers
1. Composite Price Trend
The framing composite price continued its upward weekly trend and remains significantly higher than last year’s levels, suggesting persistent demand. Source
2. Futures Market Conditions
Lumber futures softened over the past month but rallied mid-August. Reduced volume and open interest indicate cautious participation by hedgers and speculators. Source, Source
3. Upstream Price Signals (PPI)
The slight decline in the lumber PPI from June to July points to easing cost pressures in upstream segments of the supply chain. Source
North American Lumber Market – August 2025
| Indicator | Value (as of Aug 8–14, 2025) | Change from July 2025 | Change from August 2024 |
|---|---|---|---|
| Framing Lumber Composite | ↑ 0.7% WoW | Flat to slight firming | ↑ 15.1% YoY |
| CME Lumber Futures | $612.50 per 1,000 bdft (Aug 14) | ↓ ~6.1% MoM | N/A |
| Futures Volume / Open Interest | Vol ~1,060 / OI ~7,429 (Aug 14) | ↓ vs. early August | N/A |
| PPI – Lumber (Index) | 264.031 (Jul) | ↓ from 266.347 (Jun) | N/A |
📌 Outlook for Late August
Composite lumber prices appear stable to slightly firm through late August. Futures activity remains muted, suggesting limited short-term volatility. The easing PPI signals mild cost pressure relief—collectively pointing to continued market steadiness absent any external shocks.
Sources
Click to expand full sources
- NAHB – Framing Lumber Composite Week-over-Week and Year-over-Year changes for week ending Aug 8, 2025. Link
- TradingEconomics – CME Lumber Futures price as of Aug 14, 2025 (down ~6.1% over 30 days). Link
- AP News – Lumber futures volume (~1,060) and open interest (~7,429) as of Aug 14, 2025. Link
- FRED (Federal Reserve Bank of St. Louis) – Producer Price Index for lumber: July 2025 (264.031) vs June 2025 (266.347). Link