A 50% technical retracement of the move from the May 2021 high to the August low is $1,099.60 per 1,000 board feet level. On March 2, 2022, the nearby lumber futures contract was over the $1400 level. Lumber futures moved back above the $1,000 level in December 2021. Since then, they have held $900 and were approaching a test of the all-time high in early March. Lumber futures do not offer liquidity as daily volume, and the total number of open long and short positions is low. When lumber prices move ...
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