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| In MI: Taxes Cut to Encourage Logging |
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| In an effort to increase logging on private lands, Gov Rick Snyder signed legislation improving a program of tax incentives already in place. Currently, 70,000 to 80,000 acres are enrolled in the program with a cap of 1.2 Million acres. More on this story is available inside today's LBM Daily.
Send an email to the editor:
editor@lbmdaily.com |
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| Futures & Options: Consolidates |
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| Contract | Close | Change | Volume | Open Int | | | July 2013 | 308.80 | + .30 | 432 | 308.5 | | | Sept 2013 | 313.90 | -1.80 | 152 | 316.90 | | | Nov 2013 | 316.00 | -3.80 | 16 | 318.00 | | | Jan 2014 | | | | | | |
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| Lumber Futures consolidated after two days of volatile trade. Prices were up in the after -hours market on follow through short covering from yesterday's limit up close. However the lead July contract failed into this week's high of $313.10 on profit taking long liquidation setting session high at $312.00. The market gradually slipped on follow through long liquidation with some commercial selling of the premiums to recent cash purchases. Small "sell stops" were tripped near and into the weeks opening price in July price of $305.30 setting the $304.30 low where short covering lent support sending trade sideways. ...Click here to read the rest of this article. |
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