Lumber Falls for 10 Straight Sessions as US Housing Cracks Widen

Lumber futures have fallen for 10 consecutive sessions, their longest losing streak since December 2024. The lumber price trades near $586 after a sharp rejection from the $650 resistance zone.

The slide matters well beyond the timber trade. Lumber demand tracks US homebuilding almost one to one, and the streak arrived while builder confidence sits near multi-year lows.

Why Lumber Price Is Falling Despite a Supply Squeeze

Barchart data shows lumber has closed lower for 10 straight days, a streak unseen since December 2024. Two weeks ago, however, the market told the opposite story.

Futures touched $650 per thousand board feet on July 28, a 12-month high. The rally had gained over 30% from December lows as supply shocks piled up.

The Wall Street Journal reported that steep duties on Canadian lumber, wildfires, and sawmill closures had cut supply and lifted prices. More than 900 wildfires burned across Western Canada, the source of most US softwood imports.

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