CME lumber futures closed at $520 per thousand board feet on Friday, November 13, up $20, or 4%, from the previous week's close of $500, a two-year low. Turnover averaged 457 contracts a session, down 27.7% from the 12-week baseline of 632.
The week opened with its largest move. Prices climbed 1.7% on Monday to $508.50, the lowest close of the week. Gains carried the contract to $520 by Wednesday. Thursday slipped and Friday recovered the $2 lost, so the week ended where it had stood midweek.
Traders handled 2,286 contracts over the five sessions. Monday was the busiest session, with 703 contracts.
At $520 the contract was 2.4% higher than a year earlier, when it closed at $508. The close stood 21.1% below its one-year high of $659, set on July 22.