Lumber Slumps to Seven-Month Lows
Lumber futures haven’t been this low since November.
According to Seeking Alpha, “Lumber markets are probing for a floor,” Kevin Mason, managing director of ERA Forest Products Research, told Bloomberg, citing plunging home sales and higher interest rates, adding lumber prices may fall to $400 per 1,000 board feet in the next two months before producers curb production to remove excess supply.
