QUOTE AND NEWS
Clusterstock  Jul 23  Comment 
Lumber futures turned out to be a good predictor of US housing starts. The large decline earlier this year (see post) translated into weaker than expected residential construction in June (see post). That means we should certainly pay close...
Clusterstock  May 17  Comment 
Given the crucial role of housing to the economic recovery, there's suddenly a lot of interest in what's going on with lumber futures, which has been on the decline. SoberLook has the chart: The questions is whether this is something about...
Wall Street Journal  Jan 3  Comment 
Lumber futures neared three-month highs as mild weather in the U.S. extended the construction season while the year wound down.
Commodity Online  Oct 1  Comment 
CME lumber futures again hit fresh individual lows in Nov and Jan contracts as commodities sell off on economic concerns. Jitters over US and euro-zone economies weighing heavy on economically sensitive materials
Wall Street Journal  Apr 13  Comment 
U.S. lumber futures were up by the daily limit, reversing a dramatic slide that saw the lead May contract lose a quarter of its value. But the gains, based on reports of a large sale of wood to China, may be short-lived as the lumber market's...




 

Random Length Lumber futures are traded on the Chicago Mercantile Exchange under ticker symbol LB in dollars per 1,000 board feet. For electronic trading sessions, the symbol LB is used.[1]

The chart at left shows Front Month Random Length Lumber futures prices on the Chicago Mercantile Exchange (CME) in dollars per 1,000 board feet.

Delivery Dates

Random Length Lumber futures are delivered every year in January, March, May, July, September, & November.[1]

The following is a table with Random Length Lumber futures delivery dates and resultant tickers for 2009. For an explanation on commodity tickers see commodity ticker construction.

Delivery Month Full Ticker Symbol Thomson-Reuters Symbol
January, 2010LBF9LB/F9-CM
March, 2010LBH9LB/H9-CM
May, 2010LBK9LB/K9-CM
July, 2010LBN9LB/N9-CM
September, 2010LBU9LB/U9-CM
November, 2010LBX9LB/X9-CM

Contract Specifications

Contract Size

One Random Length Lumber futures contract on the Chicago Mercantile Exchange is 110,000 board feet.[1]

Daily Price Limit

$10 per mbf above or below previous day's settlement price; expandable to $15 per mbf.[1]

Last Trading Day

Trading of Random Length Lumber futures contracts on the Chicago Mercantile Exchange ends on the business day immediately preceding the 16th calendar day of the contract month, 12:05 p.m.[1]

Deliverable Grades

Deliverable Random Length Lumber grades for futures contracts on the Chicago Mercantile Exchange are: 2-inch by 4-inch lumber, 8-20 feet long.[1]

Margin

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