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Economy

“Lumber prices dive more than 40% in June, biggest monthly drop on record”

“After a jaw-dropping rally this spring, lumber prices have come back down to earth as supply increased, speculative trading action cooled and homebuilding demand eased. Lumber futures tanked more than 40% in June alone, suffering their worst month on record dating back to 1978. The building commodity is down more than 18% in 2021, headed for the first negative first half since 2015. At their peak on May 7, lumber prices hit an all-time high of $1,670.50 per thousand board feet on a closing basis, which was more than six times higher than their pandemic low in April 2020…”

https://www.cnbc.com/2021/06/30/lumber-prices-dive-more-than-40percent-in-june-biggest-monthly-drop-on-record.html

Supply increased? Is it safe to assume the labor shortage in the workforce is improving?

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