New Fed monetary policy could push U.S. lumber demand and prices higher

Nearby January physical lumber futures were at $539 per 1,000 board feet on November 17. On December 22, the March contract price was higher at the $585.50 level. A bullish trend could be developing After trading just below $500 per 1,000 board feet on October 25, March physical lumber futures have made higher lows and higher highs. The chart shows the rise to over the $590 level, with March futures trading near the recent peak on December 22. The U.S. Fed validated the bullish trend at the early December FOMC meeting.   ...