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How Trade Jitters Made Lumber February’s Best-Performing Commodity

Posted March 06, 2017

Under Economic Issues, International Trade Issues


(Myra P. Saefong – MarketWatch)

Lumber futures scored the biggest gain among major commodities for the month of February, as Donald Trump’s first full month as U.S. president fed uncertainty surrounding the nation’s lumber trade dispute with Canada.

Random length lumber for May delivery LBK7, +0.38%  was trading at $365.90 per 1,000-board-feet Tuesday afternoon, set for a roughly 10.9% gain for the month. Year to date, prices have climbed nearly 16%, based on the most-active contracts, after jumping almost 23% in 2016, according to FactSet data.

For comparison with other major commodities, iron-ore futures have tacked on around 5.8% and wheat futures WK7, +1.21% have climbed more than 5%, for the month. West Texas Intermediate oil futures CLJ7, -0.26% traded about 2% higher and gold futures GCJ7, -0.04% were up about 3.5% from the end of January. Click here to read more.