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Title: Lumber Just Keeps Getting Crushed, Now Officially A "Reverse V"
Source:
The Business Insider
URL Source: http://www.businessinsider.com/lumb ... -officially-a-reverse-v-2010-6
Published: Jun 23, 2010
Author: Joe Wiesenthal
Post Date: 2010-06-23 21:30:55 by reaganisright
Keywords: Housing, commodities, recession
Views: 3023
Comments: 12
The horrible housing numbers has been bad news for lumber prices, something we've been paying close attention to lately. Futures were down again 3% today, and have almost completed a full "reverse V," returning to crisis-days levels. 
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#10. To: reaganisright (#0)
Someone tell Lowes.
#12. To: rustynail (#10)
I'm afraid retail lumber is like retail gasoline. You gotta work thru existing inventory before the price comes down, but on the way up you need to pay for new stock or fill tanks at a higher price. Lag time gets the customer in both directions. I was checking some woodworking lumber prices this morning and one place was still using their 2009 price list. They are out toward Pittsburgh and always have low prices, problem is the travel distance. Locally I price Hearne Hardwoods, they have a great selection and fair prices. They are true pros who search the world for hardwoods.
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