THUMP! HAS A BOTTOM ARRIVED ? This week marked number seven of a deteriorating market, as seven may just be the lucky number for producers. Why you ask? This week, Canada’s top producer West Frasier announced they will be curtailing 170 million board feet from two sawmills. The Fraser Lake and Williams Lake sawmills reduction is equivalent to 2.5% of the total North American capacity. This was enough to send chills in the lumber market, sparking a significant surge in lumber futures to their highest levels since July 22nd. If August temperatures were not enough, having lumber futures prices spike was enough to catch everyone’s attention. If you are intrigued, I encourage you to dive in and check out all that transpired this week in the place I like to call: 'The Wonderful World of Wood”. Enjoy…
The market appears to have bottomed… but do you think it will last? Where do we go from here?
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