Yesterday during an episode of "Power Lunch" on MSNBC it was noted that the 5 year decline in lumber futures had reached what was determined to be the "bottom" and was going back up slightly. You have to realize that these characterizations are a matter of perspective based on where you are in time but still, it could represent the beginning of a change for structural lumber. It should also be noted that of the 5 panelists there, two had never even looked at lumber futures and seemed to think they were being pranked just talking about it.
See this story: http://www.internationalforestindustries.com/2009/11/19/updated-softwood-lumber-market-outlook-for-the-us/
It should be noted that housing starts declined about 10% for the month of October but there may be good reason to believe that everyone was waiting on Congress to see if they were going to extend the benefits on tax credits for housing.
What are your impressions?
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