Unlike oil and farm products, lumber prices have not been appreciating.
Unlike oil and farm products, lumber prices have not been appreciating. In 2007, Random Lengths’ index had declined 30% since 2004 when the composite price topped $400 per thousand board feet, and 2008’s year-to-date average is even lower: $252. Stalled-out homebuilding and competition from overseas have slackened demand for Oregon timber. West Coast softwood production dropped 12% in 2007 and rail and truck shipments are down 16% year-to-date in 2008.
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