Lumber Trades Near One-Month High
Lumber futures held around $535 per thousand board feet, remaining near their highest level in over a month, as US-Canada trade tensions persisted. The US Department of Commerce lowered antidumping and countervailing duties on Canadian softwood lumber to 24.75% from 35.16%, raising hopes for a demand recovery. However, a separate 10% US tariff brings total duties to 34.75% and keeps supply availability low. The US Lumber Coalition backed the decision, as US forestry groups have long accused Canada of distorting the market, arguing that the largely public owned Canadian forestland gives domestic producers a cost advantage. Prolongued exposure to high tariffs continues to pressure Canadian lumber output, having declined 8.6% in July 2026 from the month prior. However, gains remain tempered by weakness in the US housing market. Mortgage rates have climbed to 7.4%, their highest in nearly three years, raising borrowing costs for homebuyers and weighing on housing demand.
Lumber futures held around $535 per thousand board feet, remaining near their highest level in over a month, as US-Canada trade tensions persisted. The US Department of Commerce lowered antidumping and countervailing duties on Canadian softwood lumber to 24.75% from 35.16%, raising hopes for a demand recovery. However, a separate 10% US tariff brings total duties to 34.75% and keeps supply availability low. The US Lumber Coalition backed the decision, as US forestry groups have long accused Canada of distorting the market, arguing that the largely public owned Canadian forestland gives domestic producers a cost advantage.
Prolongued exposure to high tariffs continues to pressure Canadian lumber output, having declined 8.6% in July 2026 from the month prior. However, gains remain tempered by weakness in the US housing market. Mortgage rates have climbed to 7.4%, their highest in nearly three years, raising borrowing costs for homebuyers and weighing on housing demand.