Here is another monthly update on framing lumber prices.
This graph shows CME random length framing futures through September 7th.
Lumber was at $680 per 1000 board feet this morning.
This is down from a peak of $1,733, and up from $640 a year ago.
Click on graph for larger image in graph gallery.
Lumber price are up 6% year-over-year.
There were supply constraints over the last year, for example, sawmills cut production and inventory at the beginning of the pandemic, and the West Coast fires in 2020 damaged privately-owned timberland (and maybe again in 2021).
The supply constraints have eased somewhat.
And there was a huge surge in demand for lumber (demand remains strong).