What is happening: A fall in demand sent lumber prices plummeting towards the end of 2018, after experiencing record highs in May.
Why is this happening: Lumber prices were up and down all year due to a mixture of tariffs, delays, and rising house costs.
Highs: Wood prices were high in the first half of 2018, mainly due to levies on Canadian imports, as well as wildfires and pests damaging supplies.
Lows: The housing market then cooled, with lumber futures losing around half their value from May. In November, US and Canadian lumber and wood products were down for the second straight month.
Future: Prices could swing back the other way yet again soon. Sawmills are likely to cut down on output to allow dealers to sell off their piled stock.