Lumber prices show signs of stabilization ahead of holidays

A new report from Madison’s Lumber Reporter has indicated that lumber prices might be stabilizing, as markets adopted a cautious tone ahead of upcoming holidays in Canada and the US.

As of May 17, 2024, the price of Western S-P-F 2×4 #2&Btr KD (RL) stood at $383 per thousand board feet (mfbm), unchanged from the previous week. However, this marks an 11% decrease from a month earlier and a 64% drop from two years ago.

The price of Southern Yellow Pine East Side 2×4 #2&Btr KD (RL) was $355 mfbm, a 4% rise from the prior week but down 1% from last month.