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HOMZ - Lumber Looks Set To Rally - Weyerhaeuser Is A Wooden REIT
Hoya Capital Housing
Before 2017, the all-time high in the lumber futures market was $493.50 per 1,000 board feet in 1993. In late 2015, when many raw materials prices fell to multiyear lows, lumber hit bottom at $214.40. The price of wood futures then embarked on a recovery that took the price to a new record peak at $500 in late 2017. In 2018, the price rose like a rocket ship to $659 per 1,000 board feet. Low interest rates and robust demand for new homes in the United States caused the price to move to the high.