U.S. lumber prices soar as Canadian imports fall

U.S. lumber futures have shot up more than 50 percent this year to $1,327 per 1,000 board feet length amid tight supplies. All told, prices have gone up 400 percent since the pandemic’s outbreak, well above the previous high of $650 in 2018. Contributing to the shortage is a drop in imports from Canada. That is due not only to the return of perennial tariffs but also the impact of a mountain pine beetle infestation on B.C. forests.