Welcome to the FIA News & Insights, a one-stop resource that includes insights from senior investment professionals on timely market events, their views on the economy and their respective markets. Find updates on the latest media information on Frost Investment Advisors, LLC and the most recent reprints, as well as, archival information for your reference.
As of June 30, the price of lumber has slipped around 45% to $721 per thousand board feet -- and is now on track to have its worst month since 1978. Exactly a year ago, lumber futures closed at $435.
"I would not be surprised at all if we see the price continue to trail lower than $600 or below toward the year-end," Mace McCain, president and managing director at Frost Investment Advisors, told Insider. "We will continue to see supply come on board but we will not see demand continue to grow."
McCain added that this level will be more sustainable for the wood industry and will make housing more affordable.
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