Based on by Trading Economics’ global macro models and analyst insights, lumber prices are anticipated to reach 599.50 USD per 1000 board feet by this quarter’s end and are expected to rise to 640.14 USD in a year’s time.

586.541711.20-1.001978 – 2024USD/1000 board feet

Our forecast is build on these indicators

  • Since the start of 2024, lumber prices have seen a rise of 14.04 USD per 1000 board feet, marking a 2.45% increase, as observed in the commodity’s benchmark market through Contract for Difference (CFD) trading.
  • Lumber prices stabilize near the $600 per thousand feet mark, reaching close to their 18-month peak of $617 on March 11th, driven by a positive demand forecast
  • In February 2024, US housing starts impressively rebounded, jumping 10.7% to an annual pace of 1.521 million, surpassing expectations of 1.425 million and offsetting the previous month’s 12.3% decline
  • Optimism in lumber market grows as Federal Reserve officials confirm plans for three interest rate reductions in 2024

Here are the charts