Framing Lumber Prices
The framing lumber composite price increased 2.0% for the week ending on Oct. 18 compared to the previous week. Lumber prices are 5.9% higher than they were one year ago.
NAHB continually tracks the latest lumber prices and futures prices, and provides an overview of the behaviors within the U.S. framing lumber market. The information is sourced each week using the Random Lengths framing lumber composite price which is comprised using prices from the highest volume-producing regions of the U.S. and Canada. A summary of other wood prices, including plywood prices, is included below.
Prices and Trends in the U.S. Framing Lumber Market
Summary of the week-to-week lumber prices and plywood prices for the week ending Oct. 18, 2024:
- The Random Lengths framing lumber composite price increased 2.0%.
- Prices are 3.5% higher than last month, and 5.9% above where they were one year ago.
- The price of lumber futures fell 0.8%.
- Prices are up 2.5% from a month ago and 7.4% higher than they were one year ago.
- The structural panel composite price was up 1.1% from the previous week.
- OSB prices increased 2.6%.
- Western Fir plywood prices increased 0.3%.
- Southern Yellow Pine plywood prices increased 0.3%.
Notable Canadian Sawmill Curtailment
Western Forest Products Inc. recently announced plans to curtail production in its British Columbia sawmills by approximately 30 million board feet during the period of October to December, 2024. The company sited market challenges of weak lumber demand and higher U.S. softwood lumber duty rates.
