Lumber prices have plummeted by 70 percent in just eight weeks, The Globe and Mail reports. The cash price of two-by-fours made from western spruce, pine, and fir (SPF) was US$485 for 1,000 board feet last week. That was down from US$1,630 in mid-May.
“Despite the growing threat from wildfires in western Canada and the Pacific Northwest, any sight of a bottom remained elusive for many producers,” industry watcher Random Lengths said in a newsletter.
