Cat starting to get out on this?
- LPX starting to go vertical today, up 6%
- Futures starting to trade in the quite possibly soon to be new normal $1500-$2000 band.
- Nice article in todays WSJ on the lumber sawmill bonanza. Pg B10
- sawmillls "feasting on a glut of cheap pine trees in the south"
- builders reporting record home sales going to need wood
- sawmills backed up with orders into June
- price being passed on, not the resistance would have expected
- absent increase in motgage rates, hard to see demand dropping.