Lumber Futures Rise to Highest Price Since May 2006 in Chicago

Lumber went up the upper limit allowed by the Chicago Mercantile Exchange, reaching the highest price in more than four years reports Bloomberg. Lumber futures for March delivery jumped by the CMEs daily limit of $ 10, or 3%, to $ 340 per 1,000 board feet as of 8:45 a.m. in Chicago. That is the highest price for a most-active contract since May 5, 2006. Yesterday, the contract also rose by the $ 10 limit.