Lumber buyers were out early in the market yesterday, scrambling to find any material that could be had at or near published prices posted last Friday. There was little to be found. Most eastern mills waited until late morning to show what they had, wanting to first get a sense of the action in the market. The few items they did show were limited and priced substantially higher than where they sold at last week. Lumber futures were up limit, adding credibility to the higher numbers seen in the market. Sales were good to start the week, with many orders emanating from distribution.
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Don’t show your cards… isn’t that a poker strategy? Like in poker, are mills playing their hand or playing the people across from them?
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playing their hand- they want to maximize what return they can get knowing some will pay up to get. when supply is this low it is understandable that they will try, whether we think it is right or wrong!
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