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A recent housing construction boom, the biggest since 2006, is driving up lumber prices. So reports The Wall Street Journal.
Lumber futures slated for March delivery closed at $422.30 per 1,000 board feet on the Chicago Mercantile Exchange; wood for May was a fraction of a dollar higher.
Recently, wood dipped from a peak of $649 in May of 2018, due to "wood-boring beetles, wildfires and tariffs on Canadian imports. Home builders groused about thousands of dollars per house in added costs."
Read the full article from The Wall Street Journal.