Framing lumber market in the US was mostly affected by the downside price pressure during last week. Deep double-digit cuts not seen in more than a year developed, while failing to draw in much buying. Buyers widely sensed additional downside risk, and limited purchases to must-have items. The failure to jump-start mill sales after the Fourth of July, the sharp discount in futures compared to cash, and a weak June housing starts report were all cited as factors promoting fear and caution.   ...
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