Who has bought lumber in the past week or so?

[tigerscowboy]

Buy every week 2x. It's nearing the floor. Mills are closing up to keep demand.

[kevin01]

Heard on the radio today that the rail road workers voted to go on strike starting 11/19, if so I could see some serious price hikes coming due to no transportation. Hope what I heard was wrong and I haven't heard anyone else saying it so the information may not be accurate.

[tigerscowboy]

This is the floor. about 20 days, and then...

[Quackerbox]

Helped a buddy build a boat dock a few weeks ago and McCoys was 2-3 bucks cheaper than lowes or HD per board

[Javelin]

Why would prices go back up? Recession coming, interest rates soaring and housing starts down.

I guess if there was a labor shortage or a transportation issue it could go back up but I would think lumber should be in a free fall for the next couple years. That is what I am counting on anyway.

I have been wrong many times before, but that is what I think.

I suspect it to go up vs going down anytime soon. Fuel rates are sky high and not getting any cheaper, labor rates are getting higher, demand is still high, interest rates are going up constantly which increases cost also.

[HuntForHorns]

https://tradingeconomics.com/commodity/lumber

Chicago lumber futures moved below the $500 per thousand board feet mark, down almost 70% since its March peak, as investors refocused again on the bearish outlook for the US housing sector. The Federal Reserve's aggressive tightening cycle has pushed 30-year mortgage rates to the highest level since 2001, causing activity to slump in rate-sensitive sectors like housing. Adding to concerns that the housing market is facing a deep recession, the S&P CoreLogic Case-Shiller index showed home-price growth in the US slowed the most on record as soaring rates have drained demand. Still, record-low inventories and rising mill costs helped limit the decline. The war in Ukraine and the tightening sanctions against Russia and its ally Belarus, which account for more than 10% of the global export of lumber, have squeezed global supplies.

[Rick]

I bought some last week, did not seem like it came down to me, a sheet of birch 3/4' plywood was 85,

[Shane]

Helped a buddy build a boat dock a few weeks ago and McCoys was 2-3 bucks cheaper than lowes or HD per board

Our builder buys from McCoy's.

[dclifton]

Our builder buys from McCoy's.

i dont disagree on some things. But what i cannot figure out is i try to buy some 2x4x10 #3s in bundles from them for crate material and Mccoys is higher than HD for #2s.

But then ive seen alot of things they are cheaper on.

[tigerscowboy]

The market had been going sideways in our part of the country, but this past week it took a slight turn up. The numbers on my chart are nationwide numbers. That's why, when I say the local market numbers are heading up but the national numbers are showing sideways to down, that's the difference. I do not know of a source for local numbers that is accurate,

My take on the current Lumber Market,,

The market is currently moving sideways to up, because some Lumber Mills have announced reduced production and there seems to be increase demand. Going on. I do know that multi-family is HOT.

As I have said before, only a few corporations own all the mills and control prices. I am curious to see how this lumber market plays out this winter.

[cj7zrcool]

Most lumber is less expensive right than it has been since 2020. I can't imagine that it's not very near the bottom of the market. Mill curtailments, diesel shortage, and the impending threat of the railroad strike WILL make prices go up. Most species/dimensions printed flat today with the exception of #2 Yellow Pine that was up $15-$20 a 1000. If the rumored diesel shortage and railroad strike become reality, it will be bad for everyone. Yards can't sell out of an empty wagon and what does come available with be considerably higher priced. If I had a project to do, I'd be buying right now.

[tigerscowboy]

I don't disagree with you. I have to start watching before coffee and all the way up till supper.

[kae006]

Lowes has the plywood I bought in September @ $33/sheet for $26/sheet now