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| Forecast 'Good' for Wood Products Business |
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| The housing recovery is boosting more than just the construction lumber industry, as cabinet makers and interior trim shops reap the benefits of increased building. Apartment construction has been particularly helpful as these businesses come out of what many in the industry have called a depression. More on this story is available in today's Industry News category. "Everything is better across the board," president of Glendale OR based Swanson Group Steve Swanson said. "We saw pretty substantial increases last fall. More on this story is available in today's Industry News category.
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editor@lbmdaily.com |
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| Futures & Options: New Low |
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| Contract | Close | Change | Volume | Open Int | | | May 2013 | 334.70 | -4.80 | 277 | 341.50 | | | July 2013 | 338.10 | -6.10 | 548 | 344.20 | | | Sept 2013 | 336.10 | -5.90 | 23 | 340.60 | | | Nov 2013 | 329.00 | -7.00 | 1 | 332.00 | | | Mar 2014 | 343.00 | -5.10 | 1 | 343.00 | | |
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| Lumber Futures contracts made new recent lows on mixed selling with featured speculative long liquidation. Market pressure stemmed from fundamental weakness due in part to accumulating mill inventories on slow demand. Prices were flat to lower in the after-hours market and gradually slipped after the open of Pit trade. The break accelerated on featured "stop loss" selling into last week's low in the lead July contract $338.80. Profit taking short covering with other mixed buying in front of the daily continuation 200 day moving average of $336.10 lent support setting the day's low. ...Click here to read the rest of this article. |
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