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The article below is an excerpt from the Monthly Playbook.
How does Lumber future influence the industrial hemp market?
Lumber futures prices rose the maximum amount allowed by the Chicago Mercantile Exchange (CME) for 42% of the trading days in April. The boom in the housing market has caused lumber prices to soar, increasing the average lumber price for building a new house by $36,000 from last year.
FUTURE TIMBER PRICES
The increased price is forcing consumers to take a closer look at alternative building materials. We believe that hempcrete is poised to emerge as the best alternative to the traditional wood-framed house. There are several companies in the United States and Canada that have been developing unique ways of using hemp hurd, water, and lime to generate hempcrete.
Hemp hurd is the wood part of industrial hemp’s stalk that’s revealed after the fiber has been removed via decortication, and decortation is the process of separating the outside bast fibers from the hurd, of the plant. The remaining hurd is the main ingredient in most hempcretes.
There has been a 2.5% increase in industrial seed pricing this year, which could signal more farmers to turn to industrial hemp crops, supporting the rise of hemprete as a viable building material. As we see it, there are several companies in the United States and Canada poised to take advantage of this historical opportunity as we see it. These are our favorites: