Lumber futures are sleeping but holding the $400 per 1,000 board feet level. The new physical contract is trading at a premium to the old random-length contract.

"At 7% interest rates I wouldn't expect lumber to do much for a while," Ashley Boeckholt of MaterialsXchange told Insider.

We called it again with the Russia risk in timber markets back in February. Russia is retaliating against sanctions by stopping the export of Russian birch.

Yahoo Finance reporter Ines Ferre looks at the price action for lumber, which is down 64% year to date.

Lumber prices have dropped by more than 60% so far this year, but don't count on a recovery soon. Higher interest rates and inflation will continue to slow demand for single-family homes.

Lumber prices have dropped by more than 60% so far this year, but don't count on a recovery soon. Higher interest rates and inflation will continue to slow demand for single-family homes.

Homebuilders like Lennar and KB Home are walking away from 19,000 residential land deals due to the soured outlook in the housing market.

"The lumber market continues to be in a state of overall malaise as buyers anticipate lower overall demand going forward," Sherwood Lumber told Insider.

The price of lumber skyrocketed in 2021 when folks spent more money on DIY home improvement projects, unable to travel and dine out. Now that the cost of lumber has decreased somewhat, let's look at t...

Lumber prices fell 6% on Wednesday after rallying earlier in the week amid fears that a possible rail strike could disrupt supplies.