Open interest for current month lumber futures is about 34% below last month, just another FYI. The drivers of higher lumber price (housing & renovation on the demand side, closed sawmills on the supply side) don't seem so hot. Devin Stockfish, CEO of Weyerhaeuser, just said "I don't think $1,000 lumber prices are the new normal". Wood products (NAICS industry) saw the least amount of growth in this months PMI (and saw a contraction in employment...) If you were saying this stuff last October it might have been interesting. Now it's just late/stale/wrong.
WSJ article on thread is from April 4th numbnuts. ET'ers being late to the party? Somebody stop the presses.
You know how the saying goes... Doing the same thing over and over expecting a different result is... Carry On!
My tax residence is in the hottest mkt in the country. There isn't a single home on our street under $3MM. It ain't BF Texas, Sport. This just in! Salty BAE thinks it's April!
Oh. That’s a good idea. I will do it first thing tomorrow. Btw - have you heard of this company called Netscape. They are about to IPO. It’s going to be HUGE!