lumber-prices-weekly-chart-november-24-2017

U.S. Lumber Futures End Week Lower at $420/mbf

U.S. random length lumber futures finished lower at $420.70/mbf (continuous contract).

lumber-prices-weekly-chart-november-24-2017
U.S. random length lumber weekly futures chart November 24, 2017.

$418/mbf marked the low of the week, about half-way between the first and second price targets in our prior week’s technical analysis.

Lumber futures price technical analysis for November 15, 2017
Lumber futures price technical analysis for November 15, 2017

While seasonal lumber prices tend to increase into year’s end, and the longer-term macro trends supporting lumber prices remain intact, we anticipate lumber prices will continue lower in the near-term.

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