In midst of being bombarded with so many mixed economic signals, there’s reason for lumber markets to give thanks on a weekend when Canadians celebrate Thanksgiving. While The Vancouver Sun reports B.C. sawmills are humming again, COFI President John Allan says mills are cautious in their optimism “after suffering the longest and deepest downturn in the history of the forest products industry.” At the same time, the optimism is expressed in the fact that big producers – Canfor, West Fraser, Tolko, and Western Forest Products – are reporting they’ll all be running at near capacity this quarter. The ying and yang of all this can be found in growing concerns over a Canadian housing bubble ‘about to burst’ here, while another economist questions recent optimism surrounding a U.S. housing recovery here. Some will find optimism in both Canada and the U.S. reporting strong job gains this morning. Happy Thanksgiving!