Despite a brief uptick during week 33, southern yellow pine lumber prices have remained relatively flat through the summer months and into late August. US housing data has mirrored SYP prices, as housing starts dropped 4.8 percent to a seasonally adjusted annual rate (SAAR) of 1,155,000 units in July; single-family starts were up 0.5 percent to 856,000 units and multi-family housing segment dropped 15.9 percent to a 299,000 unit-pace.
The composite southern yellow pine lumber price for week 34 was at $377/mbf, which is down from week 33’s temporary spike of $389/mbf. Week 34’s price is 0.3 percent below its January 2017 starting point of $378/mbf, and 0.3 percent below the 2016 week 34 price of $378/mbf.
A closer look at some of the prices we have seen since the beginning of the year:
- 1Q2017 Average Price: $404/mbf
- 2Q2017 Average Price: $410/mbf
- YTD Peak Price: $440/mbf
- YTD Average Price: $400/mbf
- Average Summer Price: $380/mbf