Lumber Tops Commodity Futures in February as Demand From China May Climb

Lumber Feb 29, 2012 No Comments

LumberPrices have gained 11 percent since the end of January, the most among 35 raw materials tracked by the Rogers International Commodity Index. Lumber may reach $300 per 1,000 board feet by July on the Chicago Mercantile Exchange, up 9 percent from today’s close of $275.20 and the highest since April 6, Wood Resources said.

Lumber futures that surged more than any other commodity in February may extend a rally to a 10-month high as China boosts imports and the U.S. housing recovers, researcher Wood Resources International LLC said.

via Lumber Tops Commodity Futures in February as Demand From China May Climb – Bloomberg.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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