Today’s commodity report was fairly steady with a few notable exceptions. The composite average dropped 1.9% largely driven by a double-digit drop in OSB, while CDX remained steady and DF crept up slightly. The other big mover was PT beams, increasing by as much as 14%.
Recently the Federal Government halved the tariff on Canadian lumber, a step that should help keep commodity prices a bit more in check. That said, the NAHB (National Association of Home Builders) has been petitioning the Whitehouse hard to completely eliminate these tariffs.
Over all the market has remained much more stable than anything we’ve seen in the last two years, certainly a welcome sight to the building industry, and at a level of less than half of the peaks we saw in mid ’21, and the rebound we saw in spring of this year.
Supply chains continue to improve, though at a slower pace. Due to raised interest rates housing sales have begun to slow as well, limiting the astronomical increases in home prices over the past 3 years, however, our geographic location is still woefully underserved when it comes to housing units available, so while we may see things cool we are still expecting a relatively stable housing market (and new construction) for the foreseeable future.
Danny Steiger│President & CEO
Lumber Traders Inc.
Angeles Millwork & Lumber Co.
Hartnagel Building Supply
As always, the above content is not financial advice. Simply data to help you be better prepared. Our goal is to create more informed builders and homeowners to properly price and budget for future jobs and projects.
We will continue to update you on changes in the commodity market. Displayed above are the latest graphs.
Angeles Millwork and Hartnagel Building Supply see our customers as business partners, and their success is, in turn, ours. That is why every month, we will publish a commodity pricing chart on our Facebook page and in our monthly newsletter. The chart will represent a correlation of average pricing trends over the past year of Douglas Fir 2×4, Pressure Treated 2×4 Lumber, 7/16” OSB, and ½” CDX.