The Recorder - Cost of lumber

Published: 5/25/2021 8:28:36 AM Lumber prices have risen for reasons not included in The Recorder’s recent article on this subject....


Published: 5/25/2021 8:28:36 AM

Lumber prices have risen for reasons not included in The Recorder’s recent article on this subject.

Clearly COVID is a major factor causing issues, with lower production combining with increased demand and COVID’s dampening on international trade. As noted, catastrophic weather and the Suez the Canal blockage also contributed to these high prices.

But there were other factors.

The U.S. imposed a 21% tariff on Canadian lumber imports. And the COVID crisis could have been curtailed sooner if we had followed the CDC’s guidelines.

The Recorder noted lumber prices have started to fall. I expect that is partially because now we are following the CDC’S guidelines.

Based on standard economics, we can expect lumber prices to continue this downward trend. Prices increase when demand exceeds supply and then fall as those higher prices and higher volumes stimulate production.

In this case, alleviations of the unusual contributing factors could drive prices down even faster.

R. Kent Koeninger

Greenfield



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