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Chicago Mercantile Exchange lumber futures closed lower on Friday as quiet cash markets prompted speculators to retreat from their long positions. As of Friday mid-day, the quoted price was $255. A U.S. jobs report was issued this week and unemployment held steady at 9.7 percent. The Labor Department reported payrolls dropped by 36,000 last month [...]
West Fraser’s Eurocan paper mill shut down providing a devastating blow to Canada’s timber industry. The Kitimat mill was the latest tragedy for an industry that has seen thousands of forest sector jobs in industries such as log harvesting, lumber mills, flooring, and other forest products industries.
From the Vancouver Sun
According to Wood Resources International , import figures for the first three quarters of 2009 show an 81% increase over the previous year’s softwood figures. The final figures may mark the first year that China imported more lumber than Japan whose production slowed significantly. Canadian mills appear to have benefited most from this, [...]