CME lumber futures are futures contracts traded on the Chicago Mercantile Exchange (CME) for delivery of lumber. Lumber is a commodity used in construction and the CME lumber futures market provides a way for buyers and sellers to lock in a price for future delivery of lumber.
The CME lumber futures contract represents 110,000 board feet of random length lumber and is priced in US dollars per 1,000 board feet. The contract months for CME lumber futures are January, March, May, July, September, and November, with the nearest three months being the most actively traded.
The price of CME lumber futures is influenced by a variety of factors, including supply and demand for lumber, economic growth and construction activity, and weather conditions that may impact logging and transportation. The market can be volatile, with significant price swings in response to these factors.
Traders and investors can use CME lumber futures to hedge against price volatility, speculate on price movements, or gain exposure to the lumber market. For example, a sawmill that produces lumber may use CME lumber futures to lock in a price for its future production, while a construction company may use CME lumber futures to manage its costs for future projects.
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