Sandy

Our hearts go out to neighbors and friends along the Eastern Seaboard of the U.S. as they face the task of rebuilding lives that have been shattered in the devastation that is Hurricane Sandy. The impact is predictably being felt globally. In lumber markets, the storm is contributing to what was already unseasonably strong demand, at a time of year when industry normally adapts to reduced levels of activity. According to Reuters: “Prices for Western Spruce in the cash market have risen 7.5 percent since last week, according to data from Random Lengths. Traders said the lumber market has been gaining momentum in recent weeks amid promising signs in the (U.S.) housing market, which was at the heart of the financial meltdown in 2008. The Commerce Department said on Tuesday that the U.S. home vacancy rate, which measures empty properties and those for sale, fell to the lowest level in seven years in the third quarter, as demand for housing picked up.” (Full Story here)

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