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May 31, 2021
US lumber prices drop further signaling boom may be easing
The surge of US lumber prices has dropped from records for the first time in months, adding to signs that a historic rally may be ending A benchmark of Western spruce, pine and fir lumber prices declined for the first time in 18 weeks, CIBC analyst Hamir Patel said Friday in a note titled “Lumber Pricing Decline Now Clearly Underway,” citing data from trade publication Random Lengths. The drop comes on top of a tumble in lumber futures, which have fallen as much as 30% from an all-time high reached earlier this month ...
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