Lumber prices on the global market have dropped to their lowest levels since September 2024, primarily due to oversupply in North America and weak demand for construction lumber. U.S. benchmark prices fell to around $530 per 1,000 board feet (Lumber Physical Jan ’26 – 535.50, -3.08% on 19 November 2025 [CME]), approaching their previous lows from late 2024. The decline is driven by large inventories accumulated earlier this year. U.S. and Canadian sawmills produced more lumber than the market could absorb, while construction starts and building permits remain below last year’s levels. Early-year ...
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