The past couple of years have been highly volatile for lumber prices, topping $1,500 in 2021 and $1,400 per thousand board feet in 2022. Lumber has plummeted nearly 50 percent year to date, to below $600, but the raw material has experienced a modest rebound from recent lows over the last week.
Since lumber’s peak in late February, conditions have deteriorated for the commodity, as it had failed to join the broader commodities boom this year. The S&P Goldman Sachs Commodity Index, a benchmark for commodities investments, has climbed close to 18 percent so far in 2022.
However, after a whirlwind performance during the pandemic and during the economic recovery, the critical construction material is on the path to stabilization, says Jeremy Bowman, a contributing analyst at The Motley Fool….