Expectations fell short in the eastern spruce lumber market yesterday. There was thought that the business most experienced on Tuesday would add some stability to dropping prices but in most cases it did not. The mills took small counters when given the chance while distributors continued to lead with price to lower inventories and generate orders. Demand was still steady, and activity brisk throughout the day, but the surge seen the day prior did not sustain itself. Supply from various sources was too evident in the market to change things.
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