2020 has seen a record surge in lumber prices https://futures.tradingcharts.com/chart/LS/M?anticache=1598371240 But I sold November lumber yesterday @ 753 once it started to break down (even slightly)…the panic buying of lumber in the last 3 months has been caused by a confluence of rich people leaving the cities plagued as they are by pandemic triggered mandates (no indoor restaurants, no gathering for events, more crime fueled by less police) plus the bloated printing of currency makes buying a house a potential inflation hedge or turning a two bedroom vacation home into a four bedroom main residence. Meanwhile I predict the restricted supply of lumber (tough to staff up the lumber mills due to pandemic fear) will be loosening helping to foster what could be a profitable (for me) drop to- say- a mere 500 or lower.
Top in Lumber
Top in Lumber
Top in Lumber
2020 has seen a record surge in lumber prices https://futures.tradingcharts.com/chart/LS/M?anticache=1598371240 But I sold November lumber yesterday @ 753 once it started to break down (even slightly)…the panic buying of lumber in the last 3 months has been caused by a confluence of rich people leaving the cities plagued as they are by pandemic triggered mandates (no indoor restaurants, no gathering for events, more crime fueled by less police) plus the bloated printing of currency makes buying a house a potential inflation hedge or turning a two bedroom vacation home into a four bedroom main residence. Meanwhile I predict the restricted supply of lumber (tough to staff up the lumber mills due to pandemic fear) will be loosening helping to foster what could be a profitable (for me) drop to- say- a mere 500 or lower.