Lumber prices to remain high for a while

Business

Finished lumber products are organized at Blanchard’s Building Materials in Plaquemine, Louisiana. Lumber prices have skyrocketed more than 400% during the past year because of high demand and tight supply. Photo by Craig Gautreaux/LSU AgCenter

BATON ROUGE, La. (KTAL/KMSS) – The price you pay for lumber is high and it won’t be going down anytime soon.

Last year, the price was $354 per thousand foot of lumber. By the first week of May, the price had risen to an all-time high of $1686, an increase of nearly 475%. By May 18, the price did fall to $1,264.

According to the LSU Ag Center, the high prices is being fueled by high demand and an extremely tight supply of lumber.

“They would like to have some extra spaces,” said Joseph Chang, a forestry economist for the LSU AgCenter. “And consequently, many of the stay-at-home people are actually now spending money to build new houses or adding additions to houses.”

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