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July 23, 2018
Lumber market in the US under pressure by downside prices
Framing lumber market in the US was mostly affected by the downside price pressure during last week. Deep double-digit cuts not seen in more than a year developed, while failing to draw in much buying. Buyers widely sensed additional downside risk, and limited purchases to must-have items. The failure to jump-start mill sales after the Fourth of July, the sharp discount in futures compared to cash, and a weak June housing starts report were all cited as factors promoting fear and caution.   ...
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