RE:,,,,,,,,,,,,,,,,,,,,,,,,,ChefBoy.......................... Post by Chefboy69 on Dec 12, 2022 11:20pm
Not Good!
Lumber prices dipped below US$400 per thousand board feet (mbft) in early December, a price not seen since 2020. Higher mortgage rates and an expected recession are slowing the housing market and demand for lumber. Housing confidence as measured by the Wells Fargo Housing Market Index fell for the 11th month in a row. In response, Canfor Corp., West Fraser Timber Co. Ltd. and Interfor Corp. have all announced production downtime recently.
from Globe and Mail
https://www.theglobeandmail.com/investing/investment-ideas/article-silver-nickel-prices-climb-while-oil-lumber-slide-on-uncertain/
I mentioned before it is not a good time to be invested in lumber stocks.
They are the ones to fall the farthest as a recession hits
People obviously build less, they spend less on everything but especally lumber
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Comment by Chefboy69 on Oct 03, 2023 10:57pm
called this...i am waiting for them to cut the divi here and then i will buy and hold for the rinse and repeat