I am not interested in simple lumber price but in future term structure.
I see now it is in contango and also last 2 years it was in contango, even if it has high prices. Instead, 3-4 years ago it was in backwardation also strong.
It is strange, it would be a regular commodity with low volumes, so it would be or always incontango or always in backwardation. I need a commodity with regular future term structure, bacwd or contango is the same, but it must be constant.
Can anyone explain it? Peraphs did it change anything in the trade mechanism of lumber, in storage or insurance or transport cost? Can we think it will remain in contango in next years?