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Lumber prices highest since August, 1979.

LUMBER PRICES HIGHEST SINCE AUGUST, 1979

A leading lumber market price indicator is reporting new record-high lumber prices. According to the Random Lenghts Lumber Composite Price, June 14 saw prices reach an all-time high of $311 per thousand board feet. The average lumber price for the month of June was $302, the highest it has been since August of 1979.

The increases - a 50 percent jump since January - were attributed to a wide range of factors including: set-asides for the northern spotten owl, the federal court ruling which halted all 1991 timber sales from federal forests, a cutback in output from mills, record rains in the south and weak pulp markets in Canada, according to Random Lenghts.

The newsletter warns that tracking lumber price trends in the future will become "increasingly difficult" due to the economic recovery, production constraints and just-in-time buying.
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Publication:Wood & Wood Products
Article Type:Brief Article
Date:Aug 1, 1991
Words:142
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