Lumber trades above $680 as supply tightens

Lumber futures climbed above $680 per thousand board feet on Wednesday, nearing the two-and-a-half-year high of $685 set in March, as tight supply continued to clash with steady demand from U.S. builders. Housing starts in June held firm at an annualized 1.6 million units, while existing-home sales fell 2.7% to a nine-month low. Despite the drop, demand for framing lumber remained strong. On the supply side, U.S. tariffs on Canadian softwood continue to add around 9% to landed costs, while Pacific Northwest mill outages have taken nearly 20 ...