Lumber Jumps on Delivery Concerns After Ida, Cutbacks at Mills
- CME lumber up 7.9% after Hurricane Ida delays southern trucks
- Production cuts in western North America also support prices
U.S. lumber futures jumped almost 8% to the exchange-imposed limit on concern that damage from Hurricane Ida will hinder deliveries in the U.S. South.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
U.S. lumber futures jumped almost 8% to the exchange-imposed limit on concern that damage from Hurricane Ida will hinder deliveries in the U.S. South just as some North American mills pull back on production.
The November lumber contract shot up 7.9% to $576.20 per thousand board feet on the Chicago Mercantile Exchange.