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August 15, 2022

N. American lumber futures bounce back as Canada cuts output

   West Fraser shutters 2.5% of its North America capacity   Lumber prices may have reached bottom for now  Supply cuts from a top Canadian producer are sending lumber prices on a rally even as rising interest rates put a chill on housing markets.  Lumber futures rose for the third straight session Wednesday to $601.80 per 1,000 board feet on the Chicago Mercantile Exchange. That’s the highest intraday price since July 22 and the longest rally since July 1. The jump comes as West Fraser Timber Co. announced reductions ...

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