Last week ended on a high note in the eastern spruce lumber market, not only for sales but for prices as well. Clients continued to shore up inventories with the key items they needed. There was some hesitation by some, mindful that it is the middle of winter, and it was still prudent to keep inventories in check. There were also other clients that were very confident about the market and felt that now is the time to build inventories. Another cut in production was announced by Stimson lumber company at their Clatskanie, OR and Forest Grove, OR resulting in an immediate reduction in production of 30% at these two operations.
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