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Thunder in lumber


786Trader

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My my what is going  on with Lumber? + $2500 + since Friday morning. A near 5% positive swing.  The why naturally is not so obvious. Are people building more? Not according to the latest numbers. Are more papers being printed? Nope. Was Lumber that under valued? Errr nope, but obviously yes??!!. I am used to Oil being volatile but wood? These are crazy loopy swings and someone is working it well. Also presents a selling op. As rises like this are unnatural, it's bonkers with blueberry cream on top! 

Anyone else noticed this?

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One of the key data sets for Lumber is US home sales, permits and builds, all had good beats last week;

Tues 5th Mar 

  USD
 
New Home Sales
  621K 597K

599K

 

Fri 8th Mar

USD
 
Building Permits
  1.35M 1.29M 1.33M  
    USD
 
Housing Starts
  1.23M 1.19M 1.04M  

 

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