Over the past month, there has been a significant surge in lumber prices, influenced in part by the uncertainties caused by wildfires in Canada.

Additionally, the robust growth in U.S. housing starts has further amplified the demand for lumber. As a result, cash prices have soared by 22 percent since June 1.

A recent report by Fastmarkets indicates that last week, the price per 1,000 board feet of Western spruce, pine, and fir (SPF) two-by-fours reached US$420.

While this figure marks a notable increase from $343 at the beginning of June, it is important to note that it is still 74 percent lower than the record high of $1,630 witnessed in May 2021.