July 1st Market Update
The consensus among lumber traders last week was that the market had bottomed and prices of key items had reversed their downward trend. Business picked up late in the week as buyers stepped in to cover their July needs. The talk of extended summer shutdowns and reports of increased sales to China spurred buyers off the fence. Most Western SPF and Southern Pine items posted gains last week. OSB was still in a correction mode as most mills still had prompt wood available for this week. The one thing that has remained consistent is demand. Sales remain strong at the dealer and wholesaler level, which gives the market liquidity. This should be a quiet week with the holiday falling on Thursday.