US lumber futures tumbled by the exchange limit to $1,053.70 per 1,000 board feet on the Chicago Mercantile Exchange last week, heading for their seventh-straight decline. That’s the longest slump since July. The pullback in the futures market may signal that soaring costs and transport bottlenecks will crimp demand. “They’re probably sensing consumers are going to be smarter this year and stop buying,” said Russ Taylor, president of Russ Taylor Global in Vancouver. “The sticker shock is going to hit consumers earlier this year.” Wood prices ...
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