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Lumber Futures Fall Most in 17 Months as Output Rebounds

Lumber futures fell the most in 17 months on speculation that North American mills from Texas to Alberta are boosting output.

Lumber soared 44 percent last year as a jump in U.S. housing starts strained supplies following a cut in capacity during the property slump. Mills coming back online are easing constraints, said Steven Chercover, an analyst at DA Davidson & Co. in Lake Oswego, Oregon. Today, futures declined the most allowed by the Chicago Mercantile Exchange for the second straight day and reached a seven-month low.