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Physical lumber prices have recovered after a significant Q2 decline as the market expects lower inflation to lead to falling short-term interest rates. However, the peak construction season will be in the rearview mirror in the coming months, so the wood futures market may have to wait until spring 2025 for any substantial price recovery.
After posting a slight rise in Q1, lumber futures are now over 21% lower since the end of 2023. The path of least resistance of interest rates will likely determine lumber’s path over the coming weeks and months.
Physical lumber futures have been going nowhere fast, with the nearby contract price in an under $150 range in 2024. As lumber consolidates, the band between annual highs and lows has narrowed over the past years. Meanwhile, the industrial commodity futures remain highly illiquid, which could lead to a significant move when the price breaks out of its current trading range.
After declining from August through October 2023, physical lumber futures found a bottom and turned higher. Lumber is a thinly traded futures market but a critical economic indicator. The recent rise in lumber prices could signal an overall rally in commodity prices on the horizon.
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/PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced it has received approval from the American Carbon Registry for its Improved Forest Management...
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/PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced that its board of directors declared a quarterly base cash dividend of $0.19 per share on the...
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/PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the appointment of James "Joc" C. O'Rourke, president and chief executive officer and a...
Weyerhaeuser Reports Second Quarter Results
/PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today reported second quarter net earnings of $230 million, or 31 cents per diluted share, on net sales of $2.0...
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Lumber remains a highly illiquid commodity, but wood is a bellwether raw material and a barometer for new home construction. Soaring mortgage rates have weighed on lumber futures prices since the March 2022 high. However, the recent price action could signal a stabilization of the interest rate environment.
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Morning Markets The S&P 500 Index ( $SPX ) ( SPY ) is up +0.21%, the Dow Jones Industrials Index ( $DOWI ) ( DIA ) is up +0.58%, and the Nasdaq 100 Index ( $IUXX ) ( QQQ ) is down -0.13%. U.S. stock indexes this morning are mixed....
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Weyerhaeuser to Release Second Quarter Results on July 27
/PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) will release second quarter 2023 results on Thursday, July 27, after the market closes. The company will then...
Stockfish to Represent Weyerhaeuser at Nareit's REITweek: 2023 Investor Conference
/PRNewswire/ -- Devin W. Stockfish, president and chief executive officer of Weyerhaeuser Company (NYSE: WY), will represent the company at the upcoming Nareit...
The new physical lumber futures contract is smaller and more flexible than the random-length contract it replaced. The open interest metric has risen as the random-length contract expired and faded into history this month.
Weyerhaeuser Company Declares Dividend on Common Shares
/PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced that its board of directors declared a quarterly base cash dividend of $0.19 per share on the...
Weyerhaeuser, Firefighter Behavioral Health Alliance Partner for Second Year to Provide Mental Health Resources for Wildland Firefighters
/PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) and Firefighter Behavioral Health Alliance today announced an expanded partnership on Fighting Fires Together,...
Weyerhaeuser Reports First Quarter Results
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Weyerhaeuser to Release First Quarter Results on April 27
/PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) will release first quarter 2023 results on Thursday, April 27, after the market closes. The company will then...
Stockfish to Represent Weyerhaeuser at Upcoming Investor Conferences in March
/PRNewswire/ -- Devin Stockfish, president and chief executive officer of Weyerhaeuser Company (NYSE: WY), will represent the company at two upcoming investor...