Lumber prices are rising again. Futures are up almost 40% since late August, while Random Lengths said that its framing composite index has added 27%. The gains probably aren’t the start of a wild ride… yet, the recent upturn shows how some of this year’s surge in the price of raw materials is lingering. At $627.50 per thousand board feet, lumber futures are nearly as expensive as they ever were before the pandemic. Analysts say prices need to climb higher to balance supply with demand. …“We think this $100 run that we’ve seen so far, that we’re not done yet,” said Paul Jannke, for FEA. …In the near term, lumber prices must rise to bring BC mills back to profitability and full operating capacity, analysts say. …“Over the next few months there will still be a lot of supply chain issues and dealers don’t want to get caught with low supplies,” said Russ Taylor. [to access the full story, a WSJ subscription is required]