Lumber futures strengthen on Wednesday after Tuesday's declines end three-day rally, January contract settles up US$1 at US$231/mbf

Wendy Lisney

Wendy Lisney

Dec 8, 2011 – Industry Intelligence

LOS ANGELES , December 8, 2011 () – Improved buying interest on cash markets boosted lumber futures prices on Wednesday, following Tuesday's declines, as some trades exited short positions in response to the increased volume of cash sales.

Holiday curtailment announcements also contributed to the short covering, Dow Jones reported on Dec. 7. The January contract closed US$1 higher on Wednesday at $231.00 per thousand board ft. (mbf), and March climbed $4.40 to $250.00/mbf. Cash prices were quoted in a $238-250 range.

Tuesday's declines marked the end of a three-day rebound that saw January gain 6.7% and eliminate most of its discount to cash, closing at $232.80/mbf on Monday.

On Tuesday, January closed down $2.80 at $230.00/mbf, March dropped $1.40 to $245.60/mbf and May settled 1.80 lower at $260.90/mbf.

The primary sources of this article are Dow Jones, Chicago, on Dec. 6 and 7, and daily settlement data for random length lumber futures from the Chicago Mercantile Exchange.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.


About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025 795

+1 (310) 558 0008
+1 (310) 558 0080 (FAX)

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.