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Lumber prices drop near pre-pandemic lows

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U.S. lumber prices have dropped to near pre-pandemic lows.

By Sept. 28, lumber prices had fallen by 70% to $432 per 1,000 board feet. Prices surged as high as $1,500 per 1,000 board feet in the early months of the pandemic.

Officials with Forest Economic Advisors expect the lull in lumber prices to be short lived as demand for housing picks up.

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