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Daily News / Global Trends / Market Analysis / Wood Industry Prices / Forestry / Lumber / Sawmilling / Wood Products / Global / North America
April 8, 2020

US lumber futures rally as producers cut output

US lumber futures rally as producers cut output

Lumber futures rallied on Tuesday, hitting price limit moves on the Chicago Mercantile Exchange for a second session in a row, finding support as wood product makers cut output to offset losses in demand as the COVID-19 pandemic hits the construction market.

“Producers are all rolling out their COVID-19 responses with production curtailments in the last week or so helping to limit the recent collapse in pricing,” said Greg Kuta, an analyst and president of Westline Capital Strategies.

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