Sales were slower than anticipated in the lumber market yesterday, especially after the long holiday weekend. Ample supply from the mills along with lower prices were not enough to rouse buyers. Eastern Canadian mills, having celebrated their holiday weekend the week prior, were poised and ready to sell. There was demand and there were opportunities for traders to take orders, dependent on shipment and risk tolerance. Missing in the market was a sense of urgency. Prominent was a feeling that prices could go lower. The hurdle was the 2 to 3 weeks wait time to get product from the mills.
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