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SVTPerformance's Chain of Restaurants
Road Side Pub
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<blockquote data-quote="Weather Man" data-source="post: 16780887" data-attributes="member: 137766"><p>"Lumber markets are probing for a floor," Kevin Mason, managing director of ERA Forest Products Research, told Bloomberg, citing plunging home sales and higher interest rates, adding lumber prices may fall to $400 per 1,000 board feet in the next two months before producers curb production to remove excess supply.</p><p></p><p>Sales of newly built homes plunged 16.6% in April from March to the lowest level since April 2020, at the height of the COVID lockdowns in the U.S., and the biggest drop in nine years.</p><p></p><p>Lumber buyers have slowed orders and wood is piling up at mills, which are <a href="https://www.wsj.com/articles/lumber-prices-slump-with-rising-interest-rates-11653835230" target="_blank">weighing on prices</a>, pricing service Random Lengths said, according to <em>The Wall Street Journal</em>.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16780887, member: 137766"] "Lumber markets are probing for a floor," Kevin Mason, managing director of ERA Forest Products Research, told Bloomberg, citing plunging home sales and higher interest rates, adding lumber prices may fall to $400 per 1,000 board feet in the next two months before producers curb production to remove excess supply. Sales of newly built homes plunged 16.6% in April from March to the lowest level since April 2020, at the height of the COVID lockdowns in the U.S., and the biggest drop in nine years. Lumber buyers have slowed orders and wood is piling up at mills, which are [URL='https://www.wsj.com/articles/lumber-prices-slump-with-rising-interest-rates-11653835230']weighing on prices[/URL], pricing service Random Lengths said, according to [I]The Wall Street Journal[/I]. [/QUOTE]
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