Lumber Prices Expected To Rise Due To HurricanesPosted: Updated:
The destruction left behind by Hurricane Irma and Hurricane Harvey is creating a need for lumber and other housing supplies in the southern United States.
Here in the north country, the effects of that demand are just starting to appear.
"Right now lumber's gone up about 2 percent. They expect prices to continually increase into October, but it really depends. There's another hurricane right behind this one, so who knows when it's gonna affect it," said Bob VanTassel, general manager at Charles Garlock and Sons Ace Hardware.
VanTassel says lumber prices are based on anticipation. If a large need is expected, prices go up. If the need doesn't arise, then they quickly go back to normal.
VanTassel says after these hurricanes he expects prices to stay up for awhile.
Aside from lumber, VanTassel says shingles and other roofing materials could soon be harder to come by as well.
But the real problem will likely be trucking. A high number of deliveries headed south means fewer trucks available for deliveries up north.
"Trucking is already an issue up here. We can order a load of lumber, have the lumber available within a week, and it may take another three weeks to get a truck under it. Trucking is definitely gonna be an issue," said VanTassel.
Obviously there are plenty of other industries impacted by this hurricane season.
Orange juice and cotton are expected to take a hit, although reports say it won't be as bad as was initially feared.
And yes, gas prices also continue to climb.