Activity was wild and sales were non-stop in the eastern spruce lumber market yesterday. It all started with the announcement out west that Canfor was permanently closing its Chetwynd sawmill and temporarily closing its Houston sawmill for an extended period. This will remove approximately 750 million board feet of annual production from the market. With this news eastern mills quickly sold a fair amount of lumber to distributors and wholesalers before going off the market. Clients clambered to find coverage on the many things they needed having little success. It was difficult to pinpoint where prices were at any given point in the day.
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