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| Gains in Housing Market Lead to More Mill Jobs |
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| Improvements in the U.S. housing market are directly connected to resurgence of the mills producing wood products and timber. Among others, the Plum Creek Timber mill in Montana reopened in March after a four-year shutdown. "It's a big deal to see this mill reopen," praises Tom Ray, Plum Creek vice president. For more on this story, please see today's Industry News section. ...Click here to read the rest of this article.
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| Futures & Options: "Mixed Buying" |
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| Contract | Close | Change | Volume | Open Int | | | MAY13 | 338.60 | + 140 | 239 | 709 | | | JUL13 | 343.10 | + 190 | 564 | 3849 | | | SEP13 | 339.90 | + 130 | 70 | 1109 | | | NOV13 | 332.00 | + 200 | ---- | 171 | | | JAN14 | 343.10 | + 190 | ---- | 14 | | | MAR14 | 348.00 | + 190 | ---- | 5 | | | MAY14 | 358.90 | + 190 | ---- | 1 | | |
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| Mixed buying closed Lumber Futures modestly higher after 4 straight days of losses. Increased cash activity stabilized mill prices on the contract grade 2x4-RL #2&BTR WSPF prompting profit taking short covering as well as speculative buying on technical oversold indicators. As a result, Lumber was trading higher in the after-hours and on the opening of Pit trade. The now lead 2nd month July contract rose into the middle of technical resistance precisely at the 38% retracement from the recent $365.30 high to yesterday's low of $338.80 at $348.90. Speculative profit taking long liquidation with some commercial hedge selling set the early highs. ...Click here to read the rest of this article. |
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