The eastern spruce lumber market returned to some sort of normality yesterday, despite this being a big vacation week. Traders returned to the market after a four-day recess as demand ramped up. Buyers did their homework, making some trades but finding higher prices and fewer options available to them. Many orders became dependent on leftover positions and reload inventories. There were some opportunities with the eastern mills, but they were highly selective. They maintained a philosophy of selling only what was on the ground and avoiding what they might produce.
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Thank you @william_giguere this is consistent with the Pakira polls showing that companies are keeping their inventories around 30days …
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You’re Welcome Nadia!
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