What are the 4 types of lumber?
The hardwood, softwood, plywood or MDF are the four main varieties of wood that you may use for any type of woodworking project and the following points give you the confidence to select the right type of wood for your project.
What does lumber CME mean?
Lumber futures are traded at the Chicago Mercantile Exchange (CME), the first exchange to offer price protection to the forest products industry.
What does lumber mean?
lumber, collective term for harvested wood, whether cut into logs, heavy timbers, or members used in light-frame construction. Lumber is classified as hardwood or softwood. The term often refers specifically to the products derived from logs in a sawmill.
How much lumber is in a futures contract?
110,000 board feet
The lumber futures contract size of 110,000 board feet is roughly equivalent to a single railcar or nearly 5 truckloads. As mentioned previously, dimension lumber is used primarily for building purposes.
Why are lumber prices so high in Canada?
“A lot of the lumber production that supplies both Canada and other export markets come from B.C. The impact of the weather has put a lot of strain on the transportation and the ability to harvest logs,” said Liz Kovach, president of the WRLA. Another reason for the rise in prices is the booming housing market.
Why is Minnesota good lumber?
Minnesota’s forests looked inexhaustible to early loggers; they could not imagine felling them all with the axe as virtually the only tool available. Eventually, two-man saws — faster and cheaper than axes — would become the tool of choice for lumberjacks.
What is Douglas fir wood?
Douglas Fir, in fact, is a special wood species found mostly in Pacific Northwest. It is widely known as a fir but resembles a pine tree. It is the most popular and commonly found wood species of softwood available in North America.
What are lumber futures?
Lumber futures are the contracts used to buy and sell a certain amount of timber that has been cut into beams and planks. Futures contracts are a legally-binding agreement between two parties to exchange the commodity for a set price, on a set date in the future.
What are lumber futures at?
LBS=F – Random Length Lumber Futures
| Last Price | 1,159.20 |
|---|---|
| Day’s Range | 1,073.20 – 1,129.20 |
| Volume | 305 |
| Ask | 1,077.40 |