Russia's invasion of Ukraine aggravated already-soaring lumber prices, and they're about to start

[Yo_Mama_Been_Loggin]

seeing even bigger swing

Lumber prices are continuing to surge amid Russia's invasion of Ukraine, and traders could soon see even bigger price swings.

Futures have been on a wild ride since the onset of the COVID-19 pandemic, and they soared to a record high of $1,711 per thousand board feet last May. After tumbling through the spring and summer, they have been rebounding and got a fresh jolt from Russia's war. Since Vladimir Putin ordered troops into Ukraine, prices have jumped 14% to $1,452, putting them just 15% below the all-time peak.

The war in Ukraine has "just aggravated the bull market we have in commodities," said David Russell, VP of market intelligence at online broker-dealer TradeStation. "With the bull market in commodities like oil and a lot of metals that we've been seeing, that only gives extra support to something like lumber."

Western sanctions in response to the invasion are hammering Russia's economy, and political pressure is building up for more. US Rep. Victoria Spartz, a Ukraine-born Republican lawmaker from Indiana, told Fox Business that the West should target Russia's markets for lumber and energy to stop its attacks.

https://www.msn.com/en-us/money/markets/russias-invasion-of-ukraine-aggravated-already-soaring-lumber-prices-and-theyre-about-to-start-seeing-even-bigger-swings/ar-AAUEjWM

[WarGamer]

1. Even though thousands of miles away... this is ALREADY costing the US tens of billions.

BTW, has anyone priced (real) hardwood flooring lately?