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Lumber prices are rising despite soft demand


Lumber prices have risen to levels not seen since August 2008 because of a shortage of supply. When the housing market cratered, mills in the U.S. and Canada cut production; output plummeted about 45 percent between 2005 and 2009, according to Random Lengths, an industry data provider. The market basket of nine lumber products tracked by Purchasing magazine have increased 23 percent in the spot market since the nadir in April 2009. However, their average price of $255 per thousand board feet still is 20 percent lower than the last peak of $329 in May 2006. more

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