Lumber Prices Rebound as Canadian Floods Curb Shipments

Futures rise as West Fraser Timber warns of B.C. flood impact
Western Canadian province remains under rainfall warning

Flood waters near Abbotsford, British Columbia, Canada, on Nov. 19.Photographer: James MacDonald/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Marcy Nicholson

November 30, 2021 at 4:59 PM UTC

This article is for subscribers only.

Lumber prices are poised to return to highs last seen in June after heavy rains and flooding in Canada’s westernmost province closed roads and caused the world’s biggest producer to curb shipments.

Lumber futures rose as much as 3.8% in Chicago on Tuesday to $824.50 per 1,000 board feet, on pace for the highest settlement price since June 24, according to data compiled by Bloomberg. Prices have climbed for the past two days, extending gains after West Fraser Timber Co. Ltd. said its western Canadian lumber weekly shipments plunged about 25% to 30% in the second half of the month following severe flooding in British Columbia.