Market news · November 11, 2026

Market note, November 11, 2026: lumber prices down 10% in a month

Today is Veterans Day, a federal holiday, so the government released no construction data. The one fresh number that matters to a framer, a deck builder or a remodeler came from the lumber trade: softwood lumber prices kept falling into November.

-10%

Lumber price index from Madison’s Lumber Reporter, change in one month, to US$449 per thousand board feet for the week ending November 6, 2026 (from US$499)

1. Lumber: US$449, down 10% in a month

Madison's Lumber Reporter, a trade price service that tracks North American softwood lumber, published its index on November 6: US$449 per thousand board feet for the week ending November 6, 2026. That is US$10 (2%) less than the week before and US$50 (10%) less than a month earlier, when it was US$499.

In its market report of November 10, Madison's gave a common framing item for the week ending October 30: Western Spruce-Pine-Fir 2x4 #2&Btr KD was US$405 per thousand board feet, down US$49 (11%) in one week and US$33 (7%) below the same week last year. Madison's described a "wait-and-see" market: suppliers tried to hold their quotes while prices slipped, rumors of sawmill cutbacks did not bring buyers back, and many buyers waited longer for deliveries.

These are wholesale prices that lumber yards and dealers pay, not the price on your yard ticket. Retail follows later and not always fully. The duties on Canadian lumber have not changed since the cut in October (see our October 20 note), so this drop comes from weak demand, not from a new tariff decision.

Why a small contractor should care

Framing lumber, studs, joists and deck boards are a large share of a deck, an addition or a framing job. If your yard still quotes September prices, you may be pricing jobs above what the market now pays, or giving up margin you could keep.

What to do this week

Ask your lumber yard for a fresh quote on the 5 to 10 items you buy most, and ask directly whether their price has followed the drop.
For winter and spring decks and additions, compare that quote with what is in your estimates. If it is lower, decide whether to keep the margin or use it to close an unsigned estimate with a client who is still thinking.
Do not promise clients lower prices ahead of time. Wholesale prices can turn back up fast if sawmills cut production.

Where WorkTime CRM helps with this

Your own prices live in the Pricebook: change a lumber line once and new estimates use it. How long a sent price holds is set in Settings → Estimate Design ("Price is guaranteed for N days", 30 by default); the client sees the countdown on the signing page.

Questions

Will my lumber yard lower its price now?+

Not automatically. A yard sells stock it bought weeks ago, and freight and its own costs matter too. Ask for a fresh quote; that is the only number that counts for your estimate.

Did the tariff on Canadian lumber change?+

No new change in November. Most Canadian mills pay a combined 24.75% duty since October 19, plus the separate 10% Section 232 tariff, as in our October 20 note.

Is it a good time to buy lumber ahead for spring jobs?+

There is no sure answer. Prices are falling because demand is weak, and they can keep falling or turn up if mills cut output. Buy ahead only for jobs that are signed, and only what you can store dry.

Sources

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