Composite pricing surged 68% higher than it was just one year ago today bringing us to a new record high. Just this week, inland white fir and doug fir numbers increased and spruce, pine and engineered wood prices soared.
These price increases make producers reluctant to sell into future runs in fear of leaving money on the table. Lumberyards are hesitant to load up at these absorbent numbers but are forced to step in and cover fiber. And finally, end consumers are concerned they won't get product and are trying to cover jobs well into the third & fourth quarter of the year.
This market is difficult to figure out but the fact remains, as orders increase, prices climb. Even the third and fourth quarter expectations have firmed up. If economists are correct we may not see a pause or downturn until 2022.