Is there any room for optimism on North American lumber prices this spring?

In March 2020, random-length lumber futures fell to $251.50 per 1,000 board feet as the global pandemic gripped markets across all asset classes. While most commodities exploded higher over the following months, lumber was a star, rising to $1,711.20 as supply chain and other issues created a shortage. In an almost perfect bullish storm for the lumber market, historically low interest rates caused a housing boom, increasing the demand for lumber when supplies were low. In 2022, lumber reached a lower high at $1,477.40, which was an incredible level considering that before ...