On July 3, nearby September physical lumber futures were below the $490 per 1,000 board feet level. Lumber is in a bearish trend. Physical lumber futures on the Chicago Mercantile Exchange declined by 22.99% in Q2 and were 21.24% lower than the 2023 closing level at the end of June. The active month September physical lumber futures chart highlights the 26.6% price plunge from $635.50 on March 12 to $466.50 on June 21. At the $488 level on July 3, lumber futures remain near the recent low. Rates are staying higher ...
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