Cool, rainy weather dampened sales of Yellow Pine Lumber in Georgia this week. The heavier rains being experienced in producing areas will make it hard to get logs out, which will result in a short- to medium term reduction in log decks. Lumber Futures closed higher September 15th, due to short-covering.
CME lumber ends higher on short covering
CHICAGO, Sept 15 (Reuters) - Chicago Mercantile Exchange lumber futures closed higher on Tuesday amid short covering prompted partly by a firm expiration in the September contract.
Construction Starts Up 13% in August vs July
Reed Construction Data (RCD) announced today that the year-to-date value of construction starts through August 2009, excluding residential contracts, totaled $162.3 billion, 13.0% less than in the same period in 2008. Individual month of August starts were 12.7% higher than in July.
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