North American lumber prices are on the decline again

North American lumber prices are on the decline again as questions continue to linger about the current state of the housing market. Lumber futures fell 3% to $402 per thousand board feet on Tuesday, and the essential building commodity has suffered an eight-day losing streak that has erased 21% off of futures' pricing. The 23% price decline seen in lumber so far in February is an about-face from its strength seen in January, in which the commodity surged 37%. But analysts at Raymond James expect a turnaround in the lumber market in the coming months ...