<div dir="ltr"><div dir="ltr"><div class="gmail_default" style="font-family:tahoma,sans-serif"><p style="box-sizing:border-box;margin:0px 0px 19px;font-family:Tiempos,Georgia,Times,sans-serif;font-size:20px">From a news summary I get:</p><p style="box-sizing:border-box;margin:0px 0px 19px;font-family:Tiempos,Georgia,Times,sans-serif;font-size:20px">Lumber futures fell for the fifth straight day on Friday in the longest losing streak for the commodity in 2021.<br></p><p style="box-sizing:border-box;margin:0px 0px 19px;font-family:Tiempos,Georgia,Times,sans-serif;font-size:20px">The fall brings a reprieve for home builders who have been <a href="https://www.businessinsider.com/why-is-lumber-so-expensive-homebuilding-real-estate-newbuild-inventory-2021-3?utm_source=markets&utm_medium=ingest" target="_blank" style="box-sizing:border-box;background-color:initial;color:rgb(0,102,204);text-decoration-line:none;line-height:normal;outline:none;font-weight:bold">struggling with surging commodity prices</a> for over a year now.</p><p style="box-sizing:border-box;margin:0px 0px 19px;font-family:Tiempos,Georgia,Times,sans-serif;font-size:20px">From <a href="https://markets.businessinsider.com/news/stocks/corn-copper-lumber-wheat-price-commodities-have-surged-2021-inflation-2021-5-1030397643?utm_source=markets&utm_medium=ingest" target="_blank" style="box-sizing:border-box;background-color:initial;color:rgb(0,102,204);text-decoration-line:none;line-height:normal;outline:none;font-weight:bold">corn to copper</a>, a number of commodities have been on fire since last year, but none more than lumber. Lumber spot prices are up roughly 78% since the start of 2021 and more than 350% in the past year.</p><p style="box-sizing:border-box;margin:0px 0px 19px;font-family:Tiempos,Georgia,Times,sans-serif;font-size:20px"><a href="https://www.bloomberg.com/quote/LB1:COM" target="_blank" style="background-color:initial;box-sizing:border-box;color:rgb(0,102,204);text-decoration-line:none;line-height:normal;outline:none;font-weight:bold">Lumber futures</a> reached a record high of $1,670.50 per thousand board feet last Friday while lumber <a href="https://markets.businessinsider.com/commodities/lumber-price'?utm_source=markets&utm_medium=ingest" target="_blank" style="background-color:initial;box-sizing:border-box;color:rgb(0,102,204);text-decoration-line:none;line-height:normal;outline:none;font-weight:bold">spot prices</a> traded as high as $1,686 per thousand board feet.<br></p><p style="box-sizing:border-box;margin:0px 0px 19px;font-family:Tiempos,Georgia,Times,sans-serif;font-size:20px">This Friday, futures dropped to around $1,400 per thousand board feet while spot prices are trading around $1,550.</p><p style="box-sizing:border-box;margin:0px 0px 19px;font-family:Tiempos,Georgia,Times,sans-serif;font-size:20px">Lumber stocks, which have been on a bull run since mid-2020, are seeing a mild sell-off as a result.</p><p style="box-sizing:border-box;margin:0px 0px 19px;font-family:Tiempos,Georgia,Times,sans-serif;font-size:20px"><br></p><p style="box-sizing:border-box;margin:0px 0px 19px;font-family:Tiempos,Georgia,Times,sans-serif;font-size:20px">But don't hold your breath waiting for 2018 prices!</p><p style="box-sizing:border-box;margin:0px 0px 19px;font-family:Tiempos,Georgia,Times,sans-serif;font-size:20px">Howard</p></div></div><div class="gmail_default" style="font-family:tahoma,sans-serif"><br></div><br></div>