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| Tight Lumber Supply |
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| Dimensional lumber shortages are expected to continue in the foreseeable future according to industry observers. Dealers are recommended to keep inventory levels high enough to cover deliveries for the next quarter, if possible. Demand in excess of supply is credited for the current price escalation, with lumber futures up by more than 60% since 2011. More on this story in today's Industry News category.
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editor@lbmdaily.com |
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| Futures & Options: New Monthly Lows |
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| Contract | Close | Change | Volume | Open Int | | | May 2013 | 328.50 | -6.10 | 114 | 332 | | | July 2013 | 333.00 | -5.50 | 753 | 50 | | | Sept 2013 | 331.00 | -5.60 | 136 | 338.30 | | | Nov 2013 | 328.00 | -4.70 | 7 | 338.40 | | | Mar 2014 | 343.00 | -10.00 | 1 | 343.00 | | | May 2014 | 342.00 | -3.00 | 2 | 344.00 | | |
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| Lumber Futures made new monthly lows at levels last seen in November. Lower cash prices on lacking demand sufficient to meet current mill production pushed lumber lower in the after-hours market. "Stop loss" sell orders into the 200 day moving average of $335.40 took the lead July contract down to a new recent low. As a result, Pit prices were offered lower pressuring the market pulling both the "spot" May and the lead July contracts down under the key 12 month average of $329.70. July briefly touched limit down at $328.50 but rebounded quickly on profit taking short covering with some new technical buying on oversold indicators. ...Click here to read the rest of this article. |
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