At close Thursday, softwood lumber futures on the Chicago Mercantile Exchange launched upward $36 to US$584 but on minuscule volume traded. The looming contract close, at end of day Friday, sent just a few players into very high prices for their immediate needs.
The September contract was trading at a more moderate $520 on lukewarm volumes.

Current Softwood Lumber Prices Compared to Recent and Historical Highs

An unrecognizable lumber market returned from the stratosphere last week and this.
Most importantly, after the extreme delays of most of this year, long-awaited lumber finally arrived and was documented then sent forward to end-use. Operators are currently assessing their inventories against that of others to determine their immediate needs, in view of the looming seasonal break for the north and west of North America.
Sawmills are reluctant to book orders for after the fire ban / maintenance curtailments, since no one can rightly say what will be happening with lumber prices by then.
For their part, secondary suppliers avoided loading up their own yards with new wood that had not already been sold.
A spectacularly flailing lumber futures board fooled no one.
US home building, remodelling, renovation, and mobile home building, continued to grow with a robustness which inspired confidence in many that there were good lumber sales to be had before Labour Day this year.

Western Spruce-Pine-Fir Dimension Lumber 2×4 vs 2×4 PET Studs and Douglas Fir green 2×4 Lumber Prices: July 2018