There seemed to be nothing that could stem prices from driving much higher in the lumber market yesterday, as demand was rampant, and activity ran unabated. Buyers scrambled from the get-go, trying to uncover any tidbits the mills might have, finding little. The few items found were much higher priced than a few days ago. Justifying the purchase caused a lot of anguish and anxiety, but if you did not buy on the spot, it was not there the next moment. Late shipments, production shortfalls, low supply and logistical problems all helped fuel soaring prices and the increased activity.
Thanks for the update, sounds like the top is blowing off this market! How long can hysteria last?
many wondered that same sentiment yesterday. Most believed that the strength the market has exhibited, will continue through mid to late January. Expectations are for more lumber to become available in the new year, that would help stem the tide of rising prices. This was only conjecture at this point, with no basis to point to.