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Market Brief

Following is excerpted from the July Hardwood Leader. Hardwood lumber exports through April trailed the 2014 pace by 7%. With global inventories still on high, most buyers will take only what they need through the summer. U.S. housing indicators were largely positive in April—too positive, we think, to hold up to future revisions, especially with rising home prices and rising mortgage rates challenging housing affordability. And there isn’t much demand pull from housing markets elsewhere, either. Weak common-grade sales will dampen the overall market feel for a few more months, but there will be some bright spots. Kiln-dried upper-grade lumber sales are generally decent to strong, and prices have begun to firm up or at least level off for several species. Cabinet sector demand is up on the year and should accelerate in the fall. And, demand for crossties and cants will remain strong. The Hardwood Leader contains essential forecasts for industry members. Call 704-543-4408 to learn more.