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| Weyerhaeuser Purchasing Longview Timber |
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| Weyerhaeuser is moving forward with its purchase of lumber company Longview Timber LLC for approximately $2.65 billion from Brookfield Asset Management Inc. The parties estimate the deal will be complete in July 2013 and will include the acquisition of around 645,000 acres of timberlands in Washington and Oregon not far from Weyerhaeuser's present holdings. "We believe our company is uniquely positioned to maximize the value of these timberlands," explained Dan Fulton, Weyerhaeuser president and CEO. "The acquired timberlands are highly complementary to our existing acreage in Washington and Oregon, where we have more than 100 years of experience managing Douglas fir. By increasing our high-value timber holdings west of the Cascade mountain range, we will leverage our infrastructure as well as our expertise in silviculture, logistics and marketing, giving us a distinct competitive advantage both domestically and with export markets." ...Click here to read the rest of this article.
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| Futures & Options: "Consolidates" |
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| Contract | Close | Change | Volume | Open Int | | | JUL13 | 283.60 | - 250 | 219 | 2212 | | | SEP13 | 287.00 | - 210 | 193 | 3760 | | | NOV13 | 291.50 | - 250 | 6 | 600 | | | JAN14 | 301.00 | - 300 | 2 | 35 | | | MAR14 | 312.60 | - 80 | ---- | 11 | | | MAY14 | 312.70 | - 80 | ---- | 5 | | | JUL14 | 324.50 | - 80 | ---- | 2 | | |
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| Lumber Futures closed lower but consolidates on end of the week profit taking short covering. Lumber contracts made new two week lows on continued weak cash prices from softening demand. Wholesalers and dealers are still selling off high priced inventory meeting demand through prompt producer and contract inventory accumulations at much lower costs. ...Click here to read the rest of this article. |
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