Lumber Prices Falling to Pre-Pandemic Levels

3745
Lumber stacked at Mission Sawmill in Thunder Bay Ontario
Lumber stacked at Mission Sawmill in Thunder Bay Ontario

Thunder Bay – BUSINESS – Simple economics is the higher the price, the lower the demand. Lumber prices have been dropping drastically in recent weeks, mainly because the high cost of lumber has had many people decide to postpone projects.

People planning to build decks, do home improvements, or upgrades simply decided no way when the price of an eight foot 2×4 was over $10 or $12 each.

That falling demand, where today that eight footer is now under $5 is simply the market forces in action.

They are likely to cause problems for saw mills as falling demand over coming weeks, with summer starting to wind down, could result in layoffs.

In Western Ontario, the high danger from wildfires has many operations in the woodlands slowed as well.

There could be some price static on lumber at the retail level as some retailers have fairly large inventory levels of wood purchased at higher prices.

One impact of the price of lumber could also be on the price of woodworking tools. If consumers are not building, there is not likely going to be large demand for tools for the Do-it-Youself homeowners.

 

 

 

Previous articleDryden OPP Respond to 145 Calls for Service – 37 Charges Result
Next articleThunder Bay Regional to Get Expanded Funding for Cardiovascular Surgery Program
NetNewsledger.com or NNL offers news, information, opinions and positive ideas for Thunder Bay, Ontario, Northwestern Ontario and the world. NNL covers a large region of Ontario, but we are also widely read around the country and the world. To reach us by email: newsroom@netnewsledger.com. Reach the Newsroom: (807) 355-1862