COM - Lumber futures extend rally to all-time highs; sawmill owners eye more profits

Lumber prices pushed further into record territory today, likely meaning that Weyerhaeuser (WY), Canfor (CFPZF) and other sawmill owners can expect even fatter profits than the record earnings they reported for Q1 2021 (I, II).Lumber futures (LB1:COM) for delivery later this month settled at $1,575.60 per thousand board feet, another record and more than 4x the typical price this time of year.ETFs: [[WOOD]], [[CUT]], [[NAIL]]Further gains could be coming: Chicago Mercantile Exchange rules remove daily trading thresholds during the month in which a futures contract expires, which means May futures have no limit to how high they may rise before the 15th, when the bets are settled, and today, May futures shot up $75.60, the most ever in a single day.Mill owners say they are backed up with orders into June; boards for July delivery, the most actively traded futures contract, ended today at $1,418.50 per thousand board feet, and

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Lumber futures extend rally to all-time highs; sawmill owners eye more profits