Lumber prices are on pace to plunge 45% in June after a record-breaking rally driven by homebuilding demand

The price of lumber futures is on pace to plunge 45% in June for one of the largest monthly drops ever, as the hot commodity comes off a record-breaking rally. Lumber prices have been on a rapid decline since their May 7 peak of $1,670 per thousand board feet. As of June 30, the price of lumber has …

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