The relentless rise in lumber prices shows no signs of abating as the pandemic keeps people at home, spurring a home-renovation boom.
Lumber futures climbed to a record $1,004.90 per 1,000 board feet Thursday, rising for the eighth session in nine. Prices have climbed about 40% this year, fueling concerns for home builders across the U.S., with the biggest industry group calling on the Biden administration to help boost supply.
