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Lumber Futures

QUOTE AND NEWS
[$] Milder Weather Boosts Lumber
Wall Street Journal  Jan 3  Comment 
Lumber futures neared three-month highs as mild weather in the U.S. extended the construction season while the year wound down.
CME lumber futures fall on economic concerns
Commodity Online  Oct 1  Comment 
CME lumber futures again hit fresh individual lows in Nov and Jan contracts as commodities sell off on economic concerns. Jitters over US and euro-zone economies weighing heavy on economically sensitive materials
[$] Lumber Futures Reverse Slide
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...
This Chart Should Have Tipped You Off That New Housing Starts Were Going To Be A Disaster
Clusterstock  Jun 16  Comment 
If you didn't anticipate the major disappointment in new housing starts, then you probably weren't paying attention to this chart: lumber futures. No explanation needed. Join the conversation about this story » Business - Housing -...
Lumber Futures Spike Before Housing's Last Gasp
Clusterstock  Feb 8  Comment 
(This guest post originally appeared at the author's blog) Lumber futures have surged nearly 60% since the beginning of October despite mixed signals in recent housing data (read Mike Farrell’s must read housing comments here).  Random...




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 This article describes a futures contract with a discrete termination or delivery date. View articles referencing this futures contract.
 
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Charles Armstrong
Asset Prime

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

Contents
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