U.S. lumber prices rise

U.S. lumber prices are rising, thanks to an increase in home building.

Futures contracts for the resource for a March delivery are $380 per 1,000 board ft, after nearing $400 in late December, reports ft.com. This is the highest since mid-2005, before the housing downturn. Read more.

For Canada, an increase in U.S. home building is good news for producers that export lumber, base metals, and other resources.

Read: U.S. housing surge will help Canada

Also read:

U.S. housing boom to power B.C. exports

Canada’s banks predict soft landing for housing

Canada won’t see U.S.-style housing meltdown

Correction in store for Canadian housing