Those of us in the lumber and building materials (LBM) industry can recall moments when we’ve uttered, “I’ve never seen anything like this,” when referring to a particular market dynamic. I can say with confidence that the market conditions of 2020 and early 2021 are examples of a supply chain and pricing environment most of us have truly never encountered.
By now, the story is cemented of how we arrived in the situation we face today. In January and February of 2020, the price of lumber and panels began to fall due to an expectation within the LBM industry of waning demand and that inventories were sufficient.
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