Soft commodities · LB-FUT

Lumber price

Lumber currently trades at US$585.50 per Mbf (≈ €497.95 · £436.37) — 16.12% below the 12-month high. Over the past 12 months it has lost 3.14%, with the annual range running from US$496.51 to US$698.03. 24-hour movement is minimal (±0.00%).

US$585.50 / Mbf
≈ €497.95 ≈ £436.37 Unchanged 24h 44% within the 52-week range
FX Editorial Team · Data updated: · Editorially verified
Lumber (LB-FUT) price today US$585.50 / Mbf, ↑ +0.00% (24h)

Lumber chart

Interactive chart and 30-day overview

7 days
▼ −0.59%
−US$3.50
30 days
▲ +1.82%
+US$10.46
1 year
▼ −3.14%
−US$18.97
52-week range
US$496.51 44% US$698.03
Lumber (LB-FUT) 30-day price chart — USD, EUR, GBP

The Lumber chart shows how the lumber price has moved over time. The interactive view lets you switch the timeframe (from 7 days up to MAX), the currency (USD / EUR / GBP) and overlay moving averages. Click any two points to measure the percentage change between those dates.

How is lumber priced?

Lumber is priced per Mbf (thousand board feet) on the CME lumber futures contract. One Mbf approximates 2.36 m³ of finished lumber.

At US$585.50 per Mbf, one cubic metre wholesales for about US$248.09. Lumber prices are highly sensitive to US housing starts, mortgage rates and Canadian export tariffs — the volatility runs significantly higher than other building-material commodities.

What moves lumber prices?

The most important demand variable in the lumber market is US homebuilding. Annual US softwood lumber consumption is roughly 50 billion board feet (Bbf), of which about 75% is tied to residential construction, mainly the framing of single-family homes. A typical North American single-family home contains about 15 Mbf of lumber. The market therefore has a close correlation with the monthly US Census Bureau Housing Starts series: a rise in housing starts lifts demand for lumber quickly, while a decline weighs on prices. The transmission channel is the mortgage rate: when the 30-year fixed rate rises, homebuyer demand weakens, builders delay new projects, and demand for lumber falls quickly. Industrial use, such as pallets and packaging, and the renovation segment are more stable, but smaller in terms of total market size.

On the supply side, the market is shaped by the US-Canada softwood lumber dispute. The two countries have been in a recurring trade conflict for decades. The US Department of Commerce imposes a countervailing duty and an anti-dumping duty on Canadian softwood lumber imports, arguing that stumpage fees paid for timber harvested on Canadian provincial Crown land amount to unfair state support. Canada produces about 25 Bbf of softwood lumber a year, while the United States produces 35 Bbf. A significant share of Canadian output has traditionally been exported to the US market. Changes in duty rates are priced directly into CME quotations: higher duties reduce available supply in the US market and push prices higher.

A structural factor is the forest damage caused by the British Columbia mountain pine beetle (Dendroctonus ponderosae). Over recent decades, the infestation has destroyed about 50% of the harvestable lodgepole pine stock in interior British Columbia. According to Natural Resources Canada Forest Sector statistics, the province’s Annual Allowable Cut has had to be reduced on a lasting basis. This narrows Canadian supply capacity over the long term. Several sawmills in British Columbia have closed, while the remaining industry has shifted more output towards the US South and Québec. The market follows weekly Random Lengths industry prices and Natural Resources Canada forestry data because CME futures cover only the construction benchmark grade, while actual mill gate prices differ by region and quality.

How to invest in lumber

A lumber CFD is rarely available directly from retail brokers. After the contract redesign, liquidity in CME Lumber Futures fell, and lumber is typically not offered as a standalone CFD by XTB or eToro. Retail exposure is therefore usually built indirectly through equities. There are two main routes. US homebuilders sit at the demand end of the lumber market: D.R. Horton (DHI), Lennar (LEN) and PulteGroup (PHM) are the three largest US single-family homebuilders, and their earnings are linked directly to housing starts and lumber procurement costs. Lumber producers represent the supply side: Weyerhaeuser (WY) is one of the world’s largest timberland owners and is structured as a REIT, while Toronto-listed Canfor (CFP.TO) and West Fraser Timber (WFG) are major players in western Canadian and US South lumber. Two regulated brokers where both homebuilder and timber-related shares are available:

30-day price history

Chart and daily closing prices

Lumber (LB-FUT) 30-day price chart — USD, EUR, GBP

Daily close

30 trading days

Date Price (USD) Price (EUR) Price (GBP) Daily change
23 May 2026 US$585.50 €497.95 £436.37 ▲ +0.34%
21 May 2026 US$583.47 €496.22 £434.86 ▼ −1.27%
20 May 2026 US$590.98 €502.61 £440.46 ▼ −0.68%
19 May 2026 US$595.04 €506.06 £443.48 ▲ +0.59%
18 May 2026 US$591.54 €503.09 £440.87 ▲ +0.43%
15 May 2026 US$589.02 €500.94 £439.00 ▲ +1.90%
14 May 2026 US$578.03 €491.60 £430.81 ▲ +0.10%
13 May 2026 US$577.47 €491.12 £430.39 ▼ −0.44%
12 May 2026 US$580.03 €493.30 £432.30 ▼ −0.09%
11 May 2026 US$580.53 €493.72 £432.67 ▲ +0.09%
10 May 2026 US$580.00 €493.27 £432.27 ▼ −0.01%
6 May 2026 US$580.06 €493.32 £432.32 ▲ +0.52%
5 May 2026 US$577.08 €490.79 £430.10 ▲ +1.14%
4 May 2026 US$570.55 €485.24 £425.23 ▼ −0.43%
2 May 2026 US$573.00 €487.32 £427.06 ▲ +0.43%
1 May 2026 US$570.54 €485.23 £425.22 ▼ −0.35%
30 Apr 2026 US$572.55 €486.94 £426.72 ▲ +1.16%
29 Apr 2026 US$566.00 €481.37 £421.84 ▼ −2.25%
28 Apr 2026 US$579.00 €492.42 £431.53 ▼ −0.35%
27 Apr 2026 US$581.04 €494.16 £433.05 ▼ −0.25%
25 Apr 2026 US$582.50 €495.40 £434.14 ▲ +1.30%
22 Apr 2026 US$575.04 €489.05 £428.58 ▼ −1.79%
21 Apr 2026 US$585.50 €497.95 £436.37 ▲ +0.69%
20 Apr 2026 US$581.50 €494.55 £433.39 —

Lumber FAQ

Why is lumber priced in thousand board feet (Mbf)? +
The CME Lumber Futures contract — the benchmark for the global construction lumber market — is quoted in US dollars per thousand board feet (USD/Mbf) because it comes from North American sawmill practice. A board foot is defined as 1 foot × 1 foot × 1 inch of lumber, or 144 in³ = 2,359.7 cm³. The abbreviation “Mbf” comes from the Roman numeral M for thousand, so 1 Mbf = 1,000 board feet. The conversion to cubic metres is: 1 Mbf ≈ 2.36 m³ of lumber. In Europe, construction lumber is usually quoted by cubic metre. Compared with CME pricing, transport, sawing and quality premiums account for much of the difference.
What is random length framing lumber and how is it different from other wood products? +
Random length framing lumber means mixed-length structural lumber used in construction. It is the reference grade for the CME futures contract. The nominal size is typically 2x4 inches, or roughly 38×89 mm after planing, with lengths ranging from 8 to 20 feet. The raw material is SPF (Spruce-Pine-Fir): a mix of spruce, pine and fir, mainly from western Canada and the Pacific Northwest. This differs from the finished lumber segment, the plywood and OSB (oriented strand board) panel markets, and Southern Yellow Pine quotations. Those markets are tracked by different contracts and industry reports.
How much lumber is needed to build a single-family home? +
Industry estimates suggest that the frame of a typical North American single-family home contains about 15 Mbf (15,000 board feet) of lumber, or roughly 35 m³. More wood is used across the full build, including panels, cladding, roof structures and interior work, but the reference volume linked to CME pricing is dimensional framing lumber. Annual US softwood lumber consumption is ~50 Bbf, of which about 75% is used in residential construction. The main demand reference point for the market and the futures price is therefore the monthly US Census Bureau Housing Starts release.
What is the US-Canada softwood lumber dispute? +
The two countries have been in a recurring trade conflict for decades over Canadian softwood lumber imports. The US Department of Commerce imposes a countervailing duty and an anti-dumping duty on Canadian imports, arguing that the stumpage fee paid for timber harvested on Canadian provincial Crown land is below market value and therefore represents unfair state support. Canada disputes this, saying the provincial tariff system is market-based. Duty rates change periodically after reviews and WTO and USMCA proceedings, and each change is priced directly into CME quotations.
How did the mountain pine beetle outbreak affect Canadian lumber supply? +
The mountain pine beetle (Dendroctonus ponderosae) has destroyed about 50% of the harvestable lodgepole pine stock in interior British Columbia over recent decades. The damage forced repeated reductions in the province’s Annual Allowable Cut, and several sawmills in British Columbia have closed. The process has structurally reduced Canadian supply capacity. According to Natural Resources Canada Forest Sector statistics, the centre of North American lumber output has shifted towards Québec and the US South. A warming climate also supports the insect’s spread, so the effect is long term.
How large are US and Canadian softwood lumber production? +
Annual US softwood lumber production is about 35 billion board feet (Bbf), while Canada produces roughly 25 Bbf. US consumption is around ~50 Bbf, with the shortfall traditionally covered by Canadian imports. That is why the softwood dispute between the two countries has a sharp political edge. On the US side, the southern states — including Georgia, Alabama, Mississippi and Arkansas — are now the most important producing region. In Canada, British Columbia and Québec are the two key provinces. Capacity is expanding in the US South and shrinking in British Columbia, one of the market’s structural shifts.
Why is lumber not widely available as a direct CFD at brokers? +
CME Group redesigned the Lumber Futures contract, introducing the new Lumber Futures (LBR) contract alongside or in place of the former Random Length Lumber (LB) contract, with a smaller contract size and different delivery terms. After the redesign, futures market liquidity fell materially, and retail CFD providers, including XTB and eToro, typically removed lumber from their product lists. Retail investors can therefore build indirect exposure through equities: D.R. Horton (DHI), Lennar (LEN) and PulteGroup (PHM) among homebuilders, and Weyerhaeuser (WY), Canfor (CFP.TO) and West Fraser Timber (WFG) among timber and lumber companies.
Homebuilder or timber stock — which tracks lumber prices more closely? +
The two routes have opposite sensitivities. For homebuilders such as D.R. Horton, Lennar and PulteGroup, lumber is a procurement cost: higher lumber prices narrow gross margins, while lower prices widen them, so homebuilder shares can react inversely. At the same time, homebuilder shares are often driven more by housing starts and mortgage rates than by lumber prices. For timber and lumber stocks such as Weyerhaeuser, Canfor and West Fraser Timber, lumber is a selling price: higher prices support operating earnings, while lower prices compress them. Combining the two segments can create a diversified construction-related portfolio with offsetting sensitivities, although company-specific business risks — including land ownership, sawmill capacity and the construction cycle — are material on both sides.

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Data sources: CME Group — Lumber Futures (LBR) · Random Lengths — Forest Products Industry · Natural Resources Canada — Forest Sector · US Census Bureau — New Residential Construction (Housing Starts)