LUMBER futures rose to the highest in a month due to Canada's biggest producers reducing output and transport snags, reports Bloomberg News.
March futures rose by the exchange limit of US$45 recently to $1,336 per $1,000 board feet in Chicago.
The surge comes as firms announce supply cuts in British Columbia. Meanwhile, port congestion and a lack of rail cars and trucks make it harder for Canadian companies to get lumber to buyers.
'In western Canada, these transport challenges are really unprecedented in both scale and duration,' said West Fraser Timber Co CEO Ray Ferris.
Lumber futures have gained 34 per cent as supplies remain tight ahead of the peak spring construction season.
'Our biggest concerns are just shipping what we're making today,' said Mr Ferris.
SeaNews Turkey
March futures rose by the exchange limit of US$45 recently to $1,336 per $1,000 board feet in Chicago.
The surge comes as firms announce supply cuts in British Columbia. Meanwhile, port congestion and a lack of rail cars and trucks make it harder for Canadian companies to get lumber to buyers.
'In western Canada, these transport challenges are really unprecedented in both scale and duration,' said West Fraser Timber Co CEO Ray Ferris.
Lumber futures have gained 34 per cent as supplies remain tight ahead of the peak spring construction season.
'Our biggest concerns are just shipping what we're making today,' said Mr Ferris.
SeaNews Turkey
