US lumber futures fall most in 18 months as exports plunge

Lumber May 25, 2013 No Comments

LumberU.S. lumber futures fell nearly 2 percent on Friday, capping their deepest streak of losses in 1-1/2 years as a resurgence in the domestic housing market was overshadowed by plunging wood exports from the U.S. West Coast.

CME lumber for July delivery on Friday settled $5.80 lower at $297.40 per tbf, the lowest price since Oct. 24,  and dipping below the threshold of $300 per thousand board feet for the first time since October.

Prices have declined more than 25 percent since notching an eight-year high of $400.80 per tbf in February.

via US lumber futures fall most in 18 months as exports plunge | Reuters

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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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