IFSPF - Lumber slumps to four-month lows as inflation hits DIY renovation market

Lumber futures (LB1:COM) fell as much as 8.4% to $870 per 1,000 board feet in Chicago on Monday, hovering near four-month lows and extending a slump to 30% since early March. ETFs: (NYSEARCA:XHB), (WOOD), (CUT), (NAIL) Potentially relevant tickers include (WY), (WFG), (LPX), (PCH), (RFP), (OTCPK:CFPZF), (OTCPK:IFSPF), (OTCPK:WFSTF) Soaring inflation is curbing the appeal of do-it-yourself renovators to take on costly new home improvement projects, market consultant Russ Taylor told Bloomberg, noting the DIY sector is the largest lumber market segment, accounting for ~40% of consumption. Inventory is piling up because of transportation snarls that have left many of North America's top producers with stockpiles at sawmills, and with a lack of railcars and damaged roads, "producers are sitting on a lot of inventory because they can't ship the stuff," BMO's Mark Wilde said. The backlog is especially serious in western Canada, where some lumber companies including West Fraser and

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Lumber slumps to four-month lows as inflation hits DIY renovation market