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Half of Lumber Dealers Now Sit on Excess Inventory in the U.S.

Scorpio

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Half of Lumber Dealers Now Sit on Excess Inventory in the U.S.​

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Half of Lumber Dealers Now Sit on Excess Inventory in the U.S.​

Marcy Nicholson and Alex Tanzi
Thu, August 12, 2021, 3:22 PM


(Bloomberg) -- Almost half of U.S. lumber dealers and manufacturers reported excess inventories last month, a sharp turnround from a few months ago, when supplies ran so low they sparked price surges.
In July, 49% of building-material dealers and manufacturers said they had excess lumber capacity, while none described their levels as “very tight,” in a survey by John Burns Real Estate Consulting LLC. Back in April, 40% said their wood inventories were “very tight.”
Lumber prices have come down from records in May, when sawmills were caught off guard with low inventories amid a surge in home building and renovation. Producers have since increased output, and a shortage of other building supplies such as siding and windows has slowed the pace of construction.

In the John Burns Real Estate Consulting survey, about 34% of the respondents said they had slightly low or very tight inventories in July.
Lumber futures are now 70% below their peak and trading at about $500 per thousand board feet.
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©2021 Bloomberg L.P.

 

Goldbrix

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Reads like inventories are increasing far faster than prices are dropping. IDK :don't know:
 

Buck

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Lumber prices have come down from records in May, when sawmills were caught off guard with low inventories amid a surge in home building and renovation.
uh huh

the country is half closed and the other half is nearly closed, suddenly in the middle of those closures, there was a surge...in homebuilding

that surge came at us out of nowhere, caught us unexpected, it did

and just like that, we were low / out of product, like it was a mazing or something...all of er sudden, just like that we turned around and now we can't sell it all...

it's like, in three months, they built out all those houses and...well, they just sorta . . .

stopped building and now we have all this excessive inventory again, so, watch for falling prices...

not
 

glockngold

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2 x 4 = $4.00
 

Buck

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prices are falling so fast, these are even cheaper where i'm at: only $3.98
 

AurumAg

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The price of lumber is plummeting almost in perfect correlation with Ag.

Why is fuel going the wrong direction?
 

engineear

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Like stockpiling toilet paper...mad rush now you're over bought...no vision/react to msm fear.
 

edsl48

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Reminds me of the time the Hunt brothers were hoarding silver.
 

jrog100

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Goldhedge

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newmisty

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newmisty

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Goldhedge

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How much now for that $60 sh!t, I mean sheet of OSB you bought?
$33 for a 4x8 5/8" sheet osb
$24 for a 4x8 9/16"

I never bought any, was monitoring prices
 

newmisty

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$33 for a 4x8 5/8" sheet osb
$24 for a 4x8 9/16"

I never bought any, was monitoring prices
Ah! Roger that. Thanks for the updated prices.