US lumber prices continue to rise due to election optimism and interest rates cut

US lumber prices continued their upward trend this week as traders evaluated key factors likely to shape the market in the near future, including the U.S. presidential election and recent interest rate cuts. Optimism among some market players followed the election, while the Federal Reserve's recent 25-basis-point rate cut and ongoing mortgage rate increases noted by Freddie Mac added to the complexity. The Random Lengths Framing Lumber Composite Price rose for the sixth consecutive week, gaining $11 to reach $441 — its highest level since August 2023. One notable exception to the price increases was ...