I am bullish on lumber prices as the spring approaches for the following compelling reasons: Trade policy between the U.S. and Canada could significantly increase lumber prices, as tariffs are trade barriers that distort prices. Canada is a leading lumber-producing country. Falling U.S. interest rates could boost demand for new home construction, driving rising lumber demand and prices. The trend in lumber prices since early December is higher, and the trend is always a trader’s or investor’s best friend. Seasonality favors the upside over the coming months. Lumber could rally substantially over the coming weeks and months. Technical resistance is at $618.50, the recent high, $635, the high from October 2025, and just below $700 per 1,000 board feet, the highs from August and March 2025.