One of the hottest commodities of the past two years has fallen 70%, knocked lower by rising interest rates
Futures prices for lumber are down more than 70% from a March peak.Lumber prices have fallen to their lowest level in more than two years, bringing two-by-fours back to what they cost before the pandemic building boom and pointing to a sharp slowdown in construction.
Lumber futures ended Monday at $410.80 per thousand board feet, down about one-third from a year ago and more than 70% from their peak in March, when the Federal Reserve began raising interest rates to fight inflation.
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