Re: Lumber Prices..... More is less.....
First off, there are lots of differences in the two items.
A "stud" is precision end trimmed (PET)
a # 2 & btr is not (it's not supposed to be short, but it could vary as much as 1/8" in length.
A "premium" grade stud is a proprietary grade pulled specifically for Lowes. There are special grading rules. (Usually no wane and minimum sweep)
Most mills track the daily prices of various lengths and thicknesses, and are integrated by computer direct to the headrig of the mill. The computer decides what is the maximum value that can de derived by cutting a rectangular product out of a round raw material.
The price can and often does vary widely by length and width. There is no such thing as a volume equivalent.
It also can vary widely by geographic region
FYI today's price, FOB Mill; truckload quantities:
2x4 PET stud about $345 MBF
#2 btr 2x4 SPF random length $310 MBF