Although activity was slow to start yesterday, demand picked up handsomely during the day in the eastern spruce lumber market. The mill lists were rather disappointing, lacking the supply that many were looking or hoping for. Buyers hesitated, needing time to digest the higher asking prices in the market before reacting. Traders that had reload supply to rely on were able to leverage those inventories to garner the orders necessary to make it a successful day. There was very little secondary wood in the market to compete against, giving credence and support to the higher prices seen.
9 Likes