At this time last year lumber prices started their skyrocket to absolutely unprecedented highs, where they stayed for a few weeks then fell way back down to the lows of 2019.
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This year those wild swings seem to be getting worked out, with lower highs and higher lows, so it is likely industry has found where the “new normal” is, thus where pricing levels are going to be. This year prices are topping-out lower, and are bottoming-out higher.
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As industry and customers are realizing the “new normal” price levels in this post-Covid19 world, it seems that the incredible volatility of the past two years is behind us. In the past, this would be the time of year that lumber prices start to soften, as the major home builders and retailers would have made their largest-volume purchases for the coming building season.
Whether that previously “normal” seasonality will come into play this year remains to be seen. Regardless, it is generally acknowledged that those extreme highs of last year will probably not return, and customers can expect more regular price swings going forward.