The latest lumber price forecast 2024 points to modest gains, underpinned by improving U.S. construction demand. Chicago Mercantile Exchange data shows contracts edging higher week-over-week. If mortgage rates ease to below 6%, seasonal building activity could lift benchmarks above $ “While some projects may be pushed or canceled, most are expected to continue as companies adapt through value engineering and strategic planning,” said Michalski. “The industry remains resilient despite these challenges.” Despite current pain around the direction of rates, we believe we’ll see more positive news in the coming months; the fundamentals point to interest rates falling, not rising, in the months and quarters ahead, which will be a relief for shelter demand. Lumber price forecast 2024 data shows volatility indices creeping upward. Speculation on geopolitical trade tensions is adding uncertainty, making hedging strategies more attractive for market participants.
