Demand was evident in the eastern spruce lumber market yesterday. Dealers were interested in what was available in the marketplace, with some buying and others gathering information. Prices are low, testing the affordability limits of the mills. Eastern mills have lowered their production schedules by cutting shifts. European mills have decreased shipments to the U.S., but overall supply still overshadows demand. Dealers continue to keep inventories low and manageable. With prices showing little movement they have no urgency to buy, although downside risk is minimized.
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