Random Length Lumber
Random Length Lumber Meaning:
In commodity market terminology, Random Length Lumber refers to lumber of varying lengths, but generally in increments of evenly-cut two-foot boards. Random Length Lumber is the #2&Btr 2x4 specification of lumber that is deliverable into lumber futures contracts traded at the Chicago Mercantile Exchange.
In commodity market terminology, Random Length Lumber refers to lumber of varying lengths, but generally in increments of evenly-cut two-foot boards. Random Length Lumber is the #2&Btr 2x4 specification of lumber that is deliverable into lumber futures contracts traded at the Chicago Mercantile Exchange.
Lumber futures are for 110,000 board feet of Western Spruce, Pine, Fir from 8 to 20 feet in length and are quoted in U.S. Dollars with a minimum fluctuation of $0.10 per 1,000 board feet or $11.00 per contract. Random Length Lumber futures trade under the symbol LB.