A lumber industry veteran told CNBC on Thursday he expects the hot lumber market to persist, at least for a few more months, keeping both prices and volatility elevated.
“Our belief is that this cycle that we’re currently in … is here for the foreseeable future,” said Kyle Little, chief operating officer at Sherwood Lumber, a privately held New York-based wholesale distributor. He’s also a former lumber trader.
“That doesn’t mean we’re not going to trade off those most recent highs,” Little said in an interview on “The Exchange,” referring to May 10, when lumber hit a record of $1,711 per thousand board feet.