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| Weyerhaeuser Profits Rocket on Housing Rebounds |
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| Last week Weyerhaeuser Co released the results from its first quarter. The timber giant reported net profits had tripled in the first quarter thanks to improved performances in the U.S. housing sector. "Our wood products business reported its strongest quarterly earnings since 2005...," Chief Executive Dan Fulton said. For more on this story, see today's Financial and Economy & Housing sections.
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| Futures & Options: "Mixed Close" |
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| Contract | Close | Change | Volume | Open Int | | | MAY13 | 353.00 | + 50 | 582 | 1737 | | | JUL13 | 355.30 | - 10 | 500 | 3487 | | | SEP13 | 354.00 | + 150 | 57 | 1035 | | | NOV13 | 349.40 | + 240 | 20 | 158 | | | JAN14 | 358.50 | - 230 | 4 | 14 | | | MAR14 | 360.60 | - 460 | 1 | 5 | | | MAY14 | 368.50 | - 80 | ---- | 1 | | |
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| Lumber futures closed mixed in the front two active May and July contracts but well off the overnight highs. Futures jumped on the open in the after-hours market on speculative short covering off of increased cash trade albeit at lower prices. Both the May and July contracts rallied but failed into the upper end of chart related resistance against the 13 day moving averages of $362.00 and $365.20 respectively. ...Click here to read the rest of this article. |
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