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Crypto Pain for Bitcoin and Ether as Strong Dollar and Markets Take Toll
Categories: Forest Products Industry
Market Digest: SNY
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NEETS are not working by choice—but a ‘perfect storm’ is creating a pool of highly trained and willing workers who are the ‘new unemployables’
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These 4 Vanguard ETFs Soared Over 20% in the First Half of 2024. Here's Which One Is Most Likely to Fly Even Higher.
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2 Unstoppable Vanguard ETFs to Buy With $700 During the S&P 500 Bull Market
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3 No-Brainer Stocks to Buy With $300 Right Now for the Second Half of 2024
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Is Your Emergency Fund Ahead Of The Curve? The Savings Needed To Be In The Top 5% For Your Age Group
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3 Stock-Split Stocks That Can Skyrocket Up to 130%, According to Select Wall Street Analysts
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I Wouldn't Touch This Stock With a 10-Foot Pole -- Here's the High-Yield Stock I'd Buy Instead
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Nike Shares Plunged on Disappointing Guidance. Is This a Slam Dunk Opportunity to Buy the Stock?
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‘This is my big chance to secure my future’: I’m about to inherit $600,000. What should I do with all this lovely cash?
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Nvidia Is the Fifth Most Profitable Company in the S&P 500. Here Are the 4 That Beat It.
Categories: Forest Products Industry
Lack of demand drops lumber prices further
Since mid-2022 when interest rates, especially mortgage lending rates started going up, home builders and lumber buyers became extremely cautious in purchasing of manufactured wood products. Source: Madisons Lumber Reporter In general players avoided stocking up on lumber inventory, mostly out of concern that prices might fall, and they might get stuck with expensive material they would have to sell at a loss. Specifically veteran players, who were accustomed to prices at much lower levels than currently, chose to hold off buying to see if prices would drop back to what was historic. The fact is, however, that since 2020 to 2022 there is a new floor, and lumber prices will never return to what were the lows in 2010. This is because the cost-of-production for sawmills has essentially doubled in the past five years. The ongoing uncertainty of macroeconomic conditions nationally and warfare globally is doing nothing to restore confidence. For the time being customer demand is served promptly by sawmills and lumber manufacturers; however, if there is a bounce — even a small one — in sales of wood, either for new home building or for reconstruction after storms, shortages will appear almost immediately. Should this happen, anyone caught without wood they need for ongoing projects could be facing quite a price shock. Key points: Overall sentiment remained uncertain to negative Mild discounts were prevalent as producers looked to move some of their built-up material Supply was palpably ahead of subpar demand Field inventories remained exceptionally lean Opportunistic buyers flitted from supplier to supplier, feeling they had the upper hand Producers did their best to hold the line in terms of price, often not succeeding Sawmill order files continued to shrink as it remained a struggle to extend lead times on anything.
Categories: Forest Products Industry