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Could this be the lumber price bottom?: Madison’s
May 28, 2024 By Madison’s Lumber Reporter
The market adopted a pensive tone ahead of two upcoming holidays on either side of the border. In the search for stable trading levels, most commodity prices seemed to reach a bottom.
In the week ending May 17, the price of Western S-P-F 2×4 #2&Btr KD (RL) was US$383 mfbm. This is flat from the previous week when it was $383. That week’s price is down $47, or 11 per cent from one month ago when it was $430 mfbm.
Compared to the same week last year when it was $360 mfbm, that week’s price is up $23, or six per cent. Compared to two years ago when it was $1,1070, that week’s price is down by $687, or 64 per cent.
In the week ending May 17, the price of Southern Yellow Pine East Side 2×4 #2&Btr KD (RL) was $355 mfbm. This is up $15, or four per cent from the previous week when it was $340 mfbm.
That week’s price is down $3, or one per cent from one month ago when it was $358 mfbm.
Compared to the same week last year when it was $490 mfbm, that week’s price is down $135, or 28 per cent. Compared to two years ago when it was $815, that week’s price is down by $460, or 56 per cent.
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