Plunge in lumber contracts signals turning point for wood rally
Plunge in lumber contracts signals turning point for wood rally
BLOOMBERG
Stacks of lumber at a lumberyard in Victoria, British Columbia, Canada.
While builders are still paying record-high cash prices for lumber, the futures market is signaling that the historic rally could be coming to a close.
The lumber contract for July delivery fell $63 on Tuesday, May 18, the maximum permitted by the Chicago Mercantile Exchange, with the price sinking to $1,264 per 1,000 board feet. That s the seventh straight session of falling prices for the futures contract, marking the longest streak of declines since September. Lumber s most-active futures contract is down 27% from its May 10 peak of $1,733.50, a level more than four times above prices a year ago.
Westline Capital Strategies Launches Softwood Lumber Industry Resource Center
Share Article
Greg Kuta, founder of Westline Capital Strategies, today unveiled a Softwood Lumber Industry Resource Center that features events, organizations, trends, reports, data sources and more. CLEVELAND (PRWEB) January 17, 2021 Companies and investors can easily access key industry information at the Softwood Lumber Industry Resource Center, which became available today at Westline Capital Strategies.
Greg Kuta, founder of Westline Capital Strategies, developed the growing collection that references a wide mix of associations, specialized industry reports, news sources, data sources and other information.
The new Softwood Lumber Industry Resource Center is available here: