Loggers are working to chop away at the nation’s pandemic-spurred timber shortage, while also cashing in on record lumber prices. And, they are making progress: U.S. wood production just hit a 13 year high.
While wood production is at a 13 year high, the cost of lumber remains at record levels. As of the week of March 25, the price of lumber per thousand board feet is at $1,032, according to Random Lengths. That’s up 17% since the onset of the pandemic when the price was $381. While production has ramped back up, the demand from builders and home remodelers continues to outpace supply.
The demand for lumber remains strong. At the onset of the pandemic, quarantining Americans set off a home renovation and DIY boom that is still keeping places like Home Depot busy today.
