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Lumber Soars to Six-Month High on Canada Beetle Damage

Lumber futures jumped to a six-month high as two producers plan to close mills in British Columbia, fueling supply concerns as a beetle infestation decimates forests in the region.

West Fraser Timber Co. said yesterday it plans to shut its mill in Houston, British Columbia, and Canfor Corp. will close its Quesnel site in the province. The Vancouver-based companies cited a timber shortage after forests were ravaged by the mountain pine beetle. Lumber futures have surged 22 percent since the end of May.